S. Korea Finance Ministry sees 2018 growth at 2.9% vs. 3% previous forecast

Do Kyu-sang, a director general at the South Korean Finance Ministry, is out with his take on the country’s economic outlook at a press conference, following the release of its bi-annual economic policy report.

Main Points:

Sees 2018 growth at 2.9 pct vs. 3 pct estimated earlier.

Job growth at worst since the financial crisis.

Will increase fiscal spending by $3.6 bln within the existing budget.

Will expand subsidies for small businesses, low-income elderly.