SEOUL, June 28 (Yonhap) — President Moon Jae-in said Monday that South Korea is expected to achieve economic growth of over 4 percent this year, far above the previous target of 3.2 percent.
He cited a record level of exports, speaking at the outset of an expanded meeting with economy-related ministers on the direction of economic policy during the remainder of 2021.
The top priority of the nation’s economy is to “completely” overcome the crisis by creating more jobs and narrowing gaps, he said in front of pool reporters at Cheong Wa Dae.
He said South Korea’s fiscal room has expanded thanks to a recent rebound in its economy, as shown by a surplus of more than 30 trillion won (US$26.6 billion) in tax revenue.
The president called for the speedy allocation of another batch of supplementary budgets to help people in need and further enhance “economic vigor” in the midst of the COVID-19 pandemic.
He also raised the need for “bold” measures to support low-and middle-income people and boost consumption.
Source: Yonhap News Agency