S. Korea monitoring risks to economic recovery - acting PM

Monday, 10. May 2021 09:42

South Korea's Acting Prime Minister Hong Nam-ki stated on Monday the government is closely monitoring challenges to the recovery from the economic crisis the COVID-19 pandemic caused, such as inflation and movement of house prices.

Hong named growing home prices, rises in fees for daily necessities, and "deepening income disparity" as three main risk factors that "require close attention." He also instructed his team to implement all the necessary measures to achieve the predicted growth of the country's output of 4%.

His comments come shortly after President Moon Jae-in said the government will do everything in its power to ensure the economy grows by 4% in 2021.

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