Korea's finance ministry expects current account will mark a deficit in April
- 5 years ago
정부, 6개월 연속 수출 감소…4월 경상수지 ‘적자’ 전망
Seoul's finance chief expects the nation's current account surplus for April to mark a deficit, for the first time in almost 7 years.
The comments were made at a time when predictions for exports are also gloomy.
Kim Da-mi has the full story.
South Korea's finance minister Hong Nam-ki says the nation's current account is expected to mark a deficit for the month of April and record around 60 billion U.S. dollars.
In a closed meeting chaired by Hong on Friday, officials from ministries including trade, science and agriculture put their heads together to analyze the direct and indirect impact of the U.S.-China trade war on the country's economy.
Korea's current account surplus has remained in the black for almost 7 consecutive years,... but authorities noted that April's deficit is only temporary...as foreigners received dividend payouts.
There were also concerns that the country's exports will continue to decline this month...mainly due to the slowing global economy and lower prices of semiconductors.
If there is a fall,...it will mark the 6th consecutive month of poor exports.
"The first deficit in almost 7 years will shock the global market so the government needs to make sure that the exchange rate doesn't fluctuate and that there's no outflow of foreign capital."
The government will set up a revitalization group to boost efforts to increase exports by sectors and businesses especially in consumption goods.
While focusing on expanding overseas marketing and trade finance, the finance ministry said it will also push for the supplementary budget to be passed.
Kim Da-mi, Arirang News.
Seoul's finance chief expects the nation's current account surplus for April to mark a deficit, for the first time in almost 7 years.
The comments were made at a time when predictions for exports are also gloomy.
Kim Da-mi has the full story.
South Korea's finance minister Hong Nam-ki says the nation's current account is expected to mark a deficit for the month of April and record around 60 billion U.S. dollars.
In a closed meeting chaired by Hong on Friday, officials from ministries including trade, science and agriculture put their heads together to analyze the direct and indirect impact of the U.S.-China trade war on the country's economy.
Korea's current account surplus has remained in the black for almost 7 consecutive years,... but authorities noted that April's deficit is only temporary...as foreigners received dividend payouts.
There were also concerns that the country's exports will continue to decline this month...mainly due to the slowing global economy and lower prices of semiconductors.
If there is a fall,...it will mark the 6th consecutive month of poor exports.
"The first deficit in almost 7 years will shock the global market so the government needs to make sure that the exchange rate doesn't fluctuate and that there's no outflow of foreign capital."
The government will set up a revitalization group to boost efforts to increase exports by sectors and businesses especially in consumption goods.
While focusing on expanding overseas marketing and trade finance, the finance ministry said it will also push for the supplementary budget to be passed.
Kim Da-mi, Arirang News.