S. Korea Finance Ministry sees 2018 growth at 2.9% vs. 3% previous forecast
|Do Kyu-sang, a director general at the South Korean Finance Ministry, is out with his take on the country’s economic outlook at a press conference, following the release of its bi-annual economic policy report.
Main Points:
Sees 2018 growth at 2.9 pct vs. 3 pct estimated earlier.
Job growth at worst since the financial crisis.
Will increase fiscal spending by $3.6 bln within the existing budget.
Will expand subsidies for small businesses, low-income elderly.
Sees fiscal expenditure to increase by more than 7pct in 2019.
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