Finance Minister Hong Nam-ki also stressed the need to run the economic policy in a delicate manner in a bid to pursue the harmonized operation with the monetary policy. "The South Korean economy faces complicated conditions at home and abroad that could constrain its growth," Hong said at a government meeting on the economy. He cited virus situations, external economic risks and fiscal conditions as major factors that could weigh on the economic growth. The minister raised the need to meet many policy goals via a "policy mix" under which the government supports vulnerable people while the central bank tightens monetary policy. The finance ministry plans to propose an extra budget of some 14 trillion won ($11.8 billion) to support pandemic-hit small merchants.

Source: The Nation Bangkok January 20, 2022 02:11 UTC