Roh says no stimulus for economy<\/p>\n
SEOUL: President Roh Moo-Hyun on Wednesday ruled out a stimulus
\npackage for South Korea's slowing economy, saying the step could
\ntrigger negative side-effects such as higher consumer and real
\nestate prices.<\/p>\n
\"The economy is in a difficult situation. But the government
\nwill not take any short-term stimulus steps as it will trigger
\nhigher consumer prices and real estate prices,\" he said in a
\nspeech to the National Assembly.<\/p>\n
Roh pledged that his administration would succeed in
\nstabilizing real estate and consumer prices while continuing to
\npush ahead with economic reforms.<\/p>\n
The reformist president also said the economy is overcoming
\nthe shock of an accounting scandal at SK Global, the trading arm
\nof SK Group, South Korea's third biggest conglomerate.<\/p>\n
\"If there had been no reforms, our economy would have
\ncollapsed again at the SK Global shock,\" he told legislators.<\/p>\n
A third straight monthly trade deficit announced Tuesday was
\nthe latest in a series of bad news affecting South Korea's
\neconomy.<\/p>\n
Consumer confidence tumbled to an 18-month low on Monday while
\nconsumer prices rose at the fastest pace in more than two years
\nin March. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/roh-says-no-stimulus-for-economy-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}