Table 2-3-1 Revisions of Growth Outlook of Selected East Asian Economies
(％、per previous year)
GDP Growth Outlook of 1998 |
Note |
|
|---|---|---|
| South Korea |
1997 Dec. More than 3% 1998 May -2% July -4% Sep. -5.0% |
Appx. 2% in 1999, and retuning to sustainable growth path in 2000 (Korean Ministry of finance and Economy) -1.0% in 1999 in IMF World Economic Outlook (Sep,98) |
| Indonesia |
1997 Oct. 3% 1998 June below -10% July -10～-15% |
Starting recovery in 1999 and regaining positive growth in 2000 (Statement by Indonesian Minister for Coordination in August 1998) |
| Thailand |
1997 Aug. 3～4% 1998 Feb. ?3.0～-3.5% May -4.0～-5.5% Aug -7.0% |
Hitting the bottom towards the end of 1998, and gradual recovery in 1999. (Agreement with IMF In August 1998) |
| Malaysia |
1998 July -1.0～-2.0% Oct. -4.8% |
1.0% In 1999 |
| Philippines |
1998 July 1.5-2.5% Sep 1.0% |
4.1% In 1999 (Agreement with IMF In September 1998 |