South Korea cuts 2015 GDP growth outlook

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Source: Marketwatch
South Korea's government announced that it cut its 2015 GDP growth forecast by 0.7% to 3.1%, while the inflation is expected to average 0.7% from the 2% previously projected. Consumer sentiment index declined to 99 in June from 105 in May, as MERS virus outbreak has severely depleted consumer confidence. In addition, the South Korean government disclosed a $14 billion fiscal stimulus aid to supplement economy hurt by the MERS virus. 
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