SEOUL, Aug. 28 (Xinhua) -- South Korea's central bank on Thursday revised up the Asian economy's growth outlook for 2025 by 0.1 percentage point following the implementation of a supplementary budget plan.
Real gross domestic product (GDP), adjusted for inflation, was forecast to increase 0.9 percent in 2025, up from an expansion of 0.8 percent estimated three months earlier, according to the Bank of Korea (BOK).
The upward revision was attributable to the extra budget plan, which was implemented by the new government of President Lee Jae-myung to bolster the consumer demand by providing cash handout.
The BOK forecast was higher than growth estimate of 0.8 percent from the International Monetary Fund (IMF), but it was lower than growth outlook of 1.0 percent from the Organization for Economic Cooperation and Development (OECD).
The real GDP was expected to grow 1.6 percent in 2026, unchanged from the BOK's estimate three months earlier.
The consumer price index (CPI) was forecast to go up 2.0 percent this year and 1.9 percent next year. ■
