Korea Eyes New Extra Budget as Central Bank Flags Stimulus Exit By Bloomberg
(Bloomberg) -- South Korea is keeping its fiscal spigot open even as a quickening economic recovery prompts the central bank to signal it will rein in stimulus at some point. Finance Minister Hong Nam-ki said Friday the government will consider another extra budget to achieve a “full recovery” from the pandemic, which would mark the sixth such spending package since the onset of the crisis. A week earlier the central bank raised its growth forecast for the year to 4%, and flagged the need for a timely and orderly adjustment of record-low rates. The potential policy...
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