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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

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