North Korea’s GDP growth in 2019 was 1.8 percent, and in 2020 and 2021, according to forecasts, it will reach 2.2 and 2.8 percent, respectively. This is with reference to the South Korean television channel KBS reports TASS .
Last year, according to experts, the Russian economy grew by 1-1.1 percent, although, in particular, S&P cites preliminary figures of 1.3 percent.
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15:33 – January 16th
Next year, the forecast of the Ministry of Economic Development is 1.7 percent, although before that, the department expected two percent. Italian Bank UniCredit does not imply that in 2020 and 2021 the Russian economy will achieve growth of 1.5 percent, and the international insurance company Euler Hermes awaiting that Russia rises to this level in 2021. The same company predicted global economic growth of 2.4 and 2.8 percent, respectively.
Meanwhile, during an appeal to the Federal Assembly on January 15, Russian President Vladimir Putin declared that in 2021 the growth of the Russian economy will exceed the global average. In his opinion, a new investment cycle will lead to this with a planned investment growth of at least 5 percent each year. At the moment, leading world banks and rating agencies do not see the opportunity for this.
The South Korean media report did not specify how the DPRK was able to achieve economic growth under the strict sanctions applicable to the country. In 2017 and 2018, the economy of North Korea fell by 3.5 and 4.2 percent. KBS also clarifies that consumer prices in the country are growing faster than GDP.
Earlier it became known that Russia will highlight almost five million dollars to fight child mortality in North Korea.
