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"악화 … 추가 조정 가능"
Trade is likely to weigh on Seoul's economic expansion.
The Bank of Korea has suggested that the country's growth prospects for this year may need to be reduced.
Kim Mok-yeon breaks down the numbers for us.
The head of the Bank of Korea, Lee Ju-yeol, on Tuesday mentioned a possible reduction in the central bank's growth prospects for this year if the trade dispute between Seoul and Tokyo persisted.
Speaking before the Parliament's Finance Committee, Lee said the BOK's 2-point growth forecast of 2% announced last week did not sufficiently reflect the export restrictions imposed by Japan. .
"If the restrictions on Japan's exports become more severe, it would have a negative impact on the economy, in which case the prospects for economic growth could be downgraded."
When a member of an opposition party asked him if the BOK could lower the key rate in that year, Lee said it was too early to know, because he had to take into account evolution of the economic situation of the financial markets in the country and abroad.
But when asked directly about the effects of Japan's export restrictions on the financial market, the BOK chief said the bank was keeping a close eye on the situation over the past three weeks, but said it was not there. There was no need to worry seriously because there had been no unusual movements. on the stairs.
Lee also spoke about the importance of the rapid adoption of the government's draft supplementary budget, pending in the National Assembly for nearly three months.
He added that, in general, additional budget spending of about $ 8 billion could raise the economic growth rate from zero percent to one percent.
But even if the budget bill is adopted, delays in its implementation will reduce its effectiveness on growth.
Kim Mok-yeon, Arirang News.
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