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Finance Minister Hints at Downward Revision of 2023 Outlook

Written: 2023-06-08 13:36:23Updated: 2023-06-08 15:19:43

Finance Minister Hints at Downward Revision of 2023 Outlook

Photo : YONHAP News

Finance minister Choo Kyung-ho said there is a high chance the government will revise down its growth outlook for this year from the current one-point-six percent.

At a roundtable hosted by the Kwanhun Club on Thursday, Choo said the forecast will likely be adjusted in late June or early July in line with economic trends, a range of data and assessments by research institutes.

The government is expected to make the adjustment as it announces the economic policy direction for the second half of the year.

Major international agencies, the Bank of Korea and the state-run Korea Development Institute have recently put forth outlooks ranging from one-point-four to one-point-five percent.

Asked about a possible state stimulus, the minister prioritized price stability through the continuation of inflation stability policy.

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