SEOUL, Oct. 9 ( Yonhap ) - Most economic forecasters local and abroad said Wednesday they expect the Korean economy to grow an average of 3.5 percent next year, down from the estimate of Government of 3.9 percent , citing volatile economic conditions , including the Fed's plan to withdraw the purchase of bonds .
Of the 36 economic analysts , 29, or 80.6 percent , predicted that the growth rate of the country's economy will be below 3.9 percent next year. Only seven predicted to be located above the government's projection , or remain in that number, according to the Center for International Finance South Korea ( KCIF ) .
ING , a global financial institution of Dutch origin and the DekaBank of Germany forecast that the Korean economy will grow only 2.6 percent , while USB , HSBC and Credit Suisse forecast that the country's economy will be in the lower range of 3 percent.
The 2014 growth forecast for
According to the government estimate was 1.3 percentage points higher than the most pessimistic forecast of 2.6 percent and 0.1 percentage points lower than the most promising forecast of 4 percent .
Local Economic analysts also predicted that the government may have difficulty achieving its economic growth target of 3.9 percent next year as it remains to be seen whether the national and world economy will recover.
"The government should be should be better next year to achieve its economic growth target of 3.9 percent," said Kwon Soon- woo, an economist with the Economic Research Institute of Samsung .
Cho Yong -moo , another analyst at the Institute for Economic Research at LG , said : "The government seems to have painted a picture of economic growth promising for next year . Economic recovery can not be strong due to weak domestic demand " .
It is expected that the central bank of
