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Reporter Kwon Ae-ri's friendly economic time.
Reporter Kwon, I am very worried about the 3rd outbreak of Corona 19 these days, but we still have a small amount of economic damage from Corona 19, and that was said in this year's final OECD economic outlook
<Reporter>
Yes.
As of December 1, the OECD has published a final forecast for the global economy for this year.
Korea predicts that the economic growth rate in 2020 will be -1.1%.
This growth forecast means that we are the best and the best among OECD member countries this year.
Among the G20 countries, it is second only to China, which has the fastest recovery rate since the beginning of this year.
The fact that the country's growth rate is negative is usually a big problem.
Even if the size of the economy stagnates, it would be a big concern, but it means that our economy has shrunk by 1.1% compared to last year.
It's like a house that earned 10 million won a year, but this year's income was reduced to 9.89 million won.
But, as you know well, this year wasn't an ordinary year.
As economic activity, whether consumption or production, once ceased, one country was particularly many among the so-called developed countries.
On the other hand, Korea also mentions the OECD report separately.
It is said that it is the country that seems to have the least economic contraction from Corona 19 this year among member countries.
The OECD makes these overall annual outlooks in June and December twice a year.
In March and September, I narrowed down the scope of the outlook a little and did the interim calculation once.
The forecast for Korea was also lower by 0.1 percentage points than the previous forecast for September.
It seems that the corona epidemic has been affected by the spreading again.
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Of course, there are actually many people who find it too difficult, mainly for self-employed people, but the situation is a little better than others in the whole country and in the big frame.
<Reporter>
There is one prerequisite for the OECD's outlook for next year and beyond.
This is based on the assumption that the corona vaccine and treatment will be widely distributed around the world by the end of next year.
Until the end of next year.
If this premise goes well, the global economy, which shrank by 4.2% this year, is expected to recover by 4.2% next year and 3.7% more next year.
This global economic outlook is also very important to us.
It's actually not easy for me to live well by myself.
In particular, if exports are the center of the economy, like ours, in the end, we can feel that money is turning more abundantly when others live well.
It will also help our recovery when the world economy next year grows well over the challenges of this year.
However, the outlook on the resilience of the global economy is a bit negative than the previous outlook by the OECD.
This is because the scale of corona re-proliferation in major countries, including Europe, has recently been too serious.
In June, we saw that the global economy for next year will grow by 5% from this year, but the forecast for December was considerably reduced.
It is said that next year will not be able to return to before the corona crisis.
However, I think the countries that will have the most economic resilience next year will eventually be the countries that perform effective quarantine.
Of the OECD member countries, only five countries, including Korea, Norway, and Sweden, were expected to recover their pre-corona GDP levels.
We are growing 2.8% next year, recovering to pre-corona levels.
In the next year, it is expected to achieve a 3.4% growth rate.
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Even during the financial crisis in 2009, the pace of recovery was relatively faster in Korea, so what kind of scale it occupies in the global economy after that, and the weight has increased.
<Reporter>
Yes.
It is said that Korea will be the country with the largest growth in GDP level than before the corona crisis among member countries in 2022.
This is a case in which the government's fiscal expansion policy to release money has been effective, and exports are also recovering as the world economy recovers anyway.
In particular, it was evaluated that we decided to make large-scale investments in digital and green new deal policies, and that we are implementing a fiscal policy to release money in response to a society where the number of elderly is increasing.
It is also noteworthy that although we have suffered from a decline in jobs this year, private consumption and exports are already showing signs of resurrection.
In fact, it is already showing that the efforts of individual citizens were great for Korea to overcome this global crisis relatively wisely.
Earlier, I mentioned five countries that are counted to restore GDP before the corona crisis next year, Korea, Norway, and Sweden. The OECD's analysis is that they did less.