Hong Nam-ki Deputy Prime Minister of Economy and Minister of Strategy and Finance. Reporter Oh Jong-taek
Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance said on the announcement of the Bank of Korea that Korea’s economic growth rate reversed -1% in 2020, “If the corona had subsided and daily economic activities were possible in the second half of the year, it is regrettable that it would have prevented the reverse growth. It is a result of re-proving that our economy is a crisis-resistant economy, with a much smaller width of negative growth.
On the 26th, Deputy Prime Minister Hong said on his Facebook page titled’The 4th Quarter of 2020 and GDP Breakdown’, “In the last year, the developed countries in the top 10 economy are expected to grow negatively from -3% to -10% or more. It is done,” he said.
On the same day, the Bank of Korea announced that the growth rate of real gross domestic product (GDP) growth (breaking value) in the fourth quarter of last year and the previous quarter was 1.1% and -1.0%, respectively.
Deputy Prime Minister Hong said, “From the perspective of the overall economic flow, the company showed positive growth for two consecutive quarters in the second half despite the continuing difficulties of the Corona 19 incident.” This is a reinforced foundation for a’fast and strong economic recovery’ despite the third spread. It will be”.
He said, “The clear improvement trend in exports, which could be confirmed by real indicators in the last 4 quarters, and the sluggish domestic demand due to the third corona spread, were clearly shown in GDP statistics.”
Deputy Prime Minister Hong said, “Exports have been a big foundation for the competitiveness of the manufacturing industry that we have accumulated so far.” “The recovery of exports itself not only led to a recovery in growth, but it also led to the expansion of facilities investment by companies, adding to expectations for the spread of economic recovery momentum. ”Explained.
“Unlike export protection, the prolonged sluggish domestic demand and the resulting difficulties in public life are the most painful part.” “Although the 3rd spread is easing in recent years, through thorough quarantine, the corona spread as soon as possible, and normal economic activities, daily life. “It is the most urgent task to make life possible.”
Deputy Prime Minister Hong said, “The government has also faithfully played a supporting role in the crisis situation caused by the corona crisis through fiscal fiscal, and as a result, fiscal has contributed significantly to last year’s growth, and It has been shown to buffer growth. During the economic crisis, when the private sector was difficult, the finances played a role.”
“Last year, despite the unprecedented corona, we were able to derive better report cards than major developed countries with the strength, sweat, sacrifice, and enthusiasm of all citizens and economic actors. He added, “To achieve a strong economic recovery and rebound, we will once again mobilize and sprint.”
Finally, Deputy Prime Minister Hong said, “I would like to express my sincere gratitude,” and “I will take the lead from the government and take the lead.”
Reporter Lee Ji-young [email protected]