AFP, Seoul :
South Korea Thursday announced a $14 billion stimulus package to boost its troubled economy, hammered by the deadly MERS outbreak which has dented consumer spending and business sentiment.
In announcing the 15 trillion won programme-which follows a central bank interest rate cut to a record low this month-the finance ministry also slashed its growth outlook for this year.
Finance Minister Choi Kyung-Hwan said the extra move was crucial as a recovery in Asia’s fourth largest economy hinged on efforts to quickly contain the effects of Middle East Respiratory Syndrome.
South Korea Thursday announced a $14 billion stimulus package to boost its troubled economy, hammered by the deadly MERS outbreak which has dented consumer spending and business sentiment.
In announcing the 15 trillion won programme-which follows a central bank interest rate cut to a record low this month-the finance ministry also slashed its growth outlook for this year.
Finance Minister Choi Kyung-Hwan said the extra move was crucial as a recovery in Asia’s fourth largest economy hinged on efforts to quickly contain the effects of Middle East Respiratory Syndrome.
