(MENAFN) South Korean government is seriously planning to pump USD7.95 billion into the domestic economy through the current three months until December, according to the finance ministry.
This huge move is intended to keep alive the growth momentum generated in the previous quarter, with its economy jumping 1.2 percent on-quarter in the July-Sept period, the highest gain in the past 5 years.
However, while exports have usually led growth, this has not been the case this year as weak exports pulled down growth by 0.7 percent in the three months to September, let alone total exports in first half which fell 6.6 percent.
"If exports grew like it did in the past, country's growth would have hit the upper 3 percent level, plus the nation's weak exports are linked to rising downside risks caused by the slowdown in the Chinese economy," said an official.
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