South Korean President Lee Says Economy to Keep Growing in 2009
South Korea’s government will ensure that the economy keeps growing next year, President Lee Myung Bak said.
“Economies worldwide will worsen as time goes by,” Lee said at a meeting at the presidential house in Seoul yesterday, according to the presidential office Web site. “Even if other economies post negative growth, I believe we will post positive growth and I think it is our target to do that.”
Growth in Asia’s fourth-largest economy will slow to about 3 percent in 2009 from an estimated 3 pay day loans.6 percent pace this year as the global recession hurts exports and domestic spending weakens, the finance ministry forecast on Dec. 16.
South Korea depends on exports and is likely to be hurt by the U.S. slowdown, Lee said at the meeting. Exports of goods will increase less than 3 percent next year and private consumption is likely to rise about 1 percent, the ministry said last week.
Filed under: finance by Finance Boss