SEOUL (Reuters) – South Korea’s finance minister mentioned on Thursday this yr’s financial development would possible be decrease than the federal government’s earlier projection of 1.6%.
The federal government will “barely decrease” the expansion forecast for this yr when it releases its biannual coverage plans in late June or early July, Finance Minister Choo Kyung-ho mentioned throughout a media occasion.
The federal government will not be contemplating a supplementary price range for this yr and doesn’t plan to take action for some time, Choo mentioned.
Choo mentioned the nation’s inflation, which cooled to a 19-month low in Could, was nonetheless excessive and controlling it could stay as the highest precedence for some time.
(Reporting by Jihoon Lee; Modifying by Shri Navaratnam)
