Macroeconomic Forecast North Korea

North Korea’s economy will continue to show slow but steady rates of growth over our forecast period. This reflects gradual improvements in agriculture and mining, two major components of the economy, amid an expected increase in the energy supply and further implementation of market-orientated reforms after decades of central planning. However, while increased liberalisation would bring in much needed capital, the regime will be wary of losing central control, and this transition is expected to happen slowly. Meanwhile, after years of under-investment for industry, amid large-scale military spending, North Korea will remain reliant on international development assistance, contributing to the

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