Input 2021.02.27 11:41
According to the government on the 27th, the additional budget to be released on the 2nd of next month will include intensive support for victims such as small business owners and self-employed workers due to the prolonged COVID-19 quarantine, job countermeasures in response to employment shock, and additional budgets necessary for quarantine, including securing and vaccinating vaccines.
Earlier, the Democratic Party announced that the scale of the 4th disaster subsidy was ’19 trillion won plus alpha (α)’. Schedules were also presented, such as the resolution of the State Council on the 2nd of next month, submission to the National Assembly on the 4th, and the handling of the plenary session on the 18th.
President Moon Jae-in once said, “Start the execution of disaster subsidies as much as possible in March.”
Last month, the domestic market was weak due to the high intensity of the Corona 19 distance, but the export sector is continuing to be strong, so there is a possibility that an economic recovery will be detected.
On the 4th of next month, the Bank of Korea will disclose the ‘4th quarter of 2020 and annual national income (provisional)’.
The fourth quarter real gross domestic product (GDP) economic growth rate (compared to the previous quarter) announced on the 26th of last month was -1.1%, and the growth rate in 2020 was -1.0%. It is of interest how much the fourth quarter of last year and the annual growth rate will be adjusted, reflecting established indicators such as export and industrial activity trends.
In addition, as the GDP deflator (nominal GDP/real GDP) was finalized last year, statistics on per capita national income as of 2020 also come out.
Earlier, the BOK estimated the per capita national income last year in the range of 31,000 dollars. This is down from $32,115 in 2019.