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S. Korea focuses on exports' revival to lift economy
(MENAFN) by focusing fiscal spending on a faster recovery of domestic demand and energizing sagging exports, South Korea plans to put its top economic policy priority on jump-starting the country's economy.
The government basically intends to make the Korean economy more vigorous, resulting in creating jobs for young people, increasing household income and strengthening corporate competitiveness.
South Korea's market economy ranks 13th in the world by both nominal and purchasing power parity GDP, identifying it as one of the G-20 major economies. It is a developed country with a high-income economy.
"We will put priority on expansionary fiscal policy this year to boost domestic demand as a whole, supplementing weak private consumption," stated the Deputy Finance Minister.
The government basically intends to make the Korean economy more vigorous, resulting in creating jobs for young people, increasing household income and strengthening corporate competitiveness.
South Korea's market economy ranks 13th in the world by both nominal and purchasing power parity GDP, identifying it as one of the G-20 major economies. It is a developed country with a high-income economy.
"We will put priority on expansionary fiscal policy this year to boost domestic demand as a whole, supplementing weak private consumption," stated the Deputy Finance Minister.
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