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Mix-Ansicht- Korea - Neue Regierung alte Politik - EM-financial, 29.12.2004, 09:52
Korea - Neue Regierung alte Politik
-->The government will bring forward fiscal spending to the first half of next year to help stimulate sagging domestic demand and raise GDP growth over five pct, the Ministry of Finance and Economy said.
The government will spend as much as 100 trln won, about 60 pct of its full-year budget, during the first half of 2005, up 12.5 trln won or 14.3 pct from the same period this year, the ministry said.
""GDP growth of at least five pct is something we must achieve next year to create sufficient jobs,"" the ministry said.
The government aims to create more than 400,000 new jobs annually.
The government plans to concentrate its fiscal spending on projects to strengthen social infrastructure, and the construction and IT industries.
Earlier this month, the Bank of Korea forecast that the GDP growth rate would slow to 4 pct in 2005 from the 4.7 pct projected for this year.
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