S.Korea finance ministry warns growth may slow, exports face growing downside risks

S.Korea finance ministry warns growth may slow, exports face growing downside risks

© Reuters. FILE PHOTO: People cross a zebra crossing in a business district in central Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korea’s finance ministry on Friday warned economic growth could slow on increasing downside risks for exports.

“It is concerning that economic growth may slow due to limited export recovery going forward, while high inflation pressure continues and economic sentiment is also partly affected amid worsening external conditions,” the ministry said in its latest monthly economic assessment.

The ministry cited continued inflation pressure globally, monetary tightening in major countries, economic slowdown in the United States and China and the lengthening war in Ukraine as increasing downside risks.

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