S.Korea cuts growth outlook for 2012, 2013 | Bangkok Post: news

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S.Korea cuts growth outlook for 2012, 2013

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The South Korean government has slashed the nation's growth outlook for 2012 and 2013, citing the eurozone debt crisis and US fiscal woes that continue to dampen global demand. 

Containers are seen stacked up at a terminal in the southeastern port city of Busan, on March 17, 2010. The South Korean government has slashed the nation's growth outlook for 2012 and 2013, citing the eurozone debt crisis and US fiscal woes that continue to dampen global demand.

In a biannual economic outlook, the finance ministry revised its earlier estimate of 4.0 percent growth in 2013 to 3.0 percent, and the 2012 estimate from 3.3 percent to 2.1 percent.

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