S. Korea Finance Ministry sees 2018 growth at 2.9% vs. 3% previous forecast

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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