NK's economic growth is 'temporary' thanks to Russia-Ukraine war, study says
North Korea’s recent economic growth in the 3 percent range was a “temporary war windfall” from the Russia-Ukraine war that would potentially lead to reduced domestic consumption, according to an analysis released by a think tank run by South Korea's spy agency on Sunday. In a research paper titled “Is North Korea’s economy really booming?” released Thursday by the Institute for National Security Strategy (INSS), a South Korean state-run think tank affiliated with the National Intelligence Service (NIS), senior research fellow Lim Soo-ho wrote, “What North Korea is enjoying right now is not genuine growth in its domestic economy, but rather a predatory expansion — a temporary windfall in regime finances built on war profits and inflation tax.” “North Korea’s recent economic growth has been heavily driven by a unilateral surge in heavy industry and construction … Those facilities and manufactured munitions yield almost no tangible benefit for public livelihood,” he added. Citing Bank of Korea estimates, showing North Korea’s real gross domestic product grew by
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