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'S. Korea Tops OECD in Growth Outlook for This, Next Year'

Written: 2020-10-07 16:51:08Updated: 2020-10-07 19:07:32

'S. Korea Tops OECD in Growth Outlook for This, Next Year'

Photo : YONHAP News

The presidential office projected on Wednesday that South Korea will post the highest growth for this year, as well as for this and next year combined, among all members of the Organization for Economic Cooperation and Development(OECD).

Presidential Secretary for Economic Affairs Lee Ho-seung gave a briefing on the growth outlook of OECD member states in the post-coronavirus era.

He said South Korea's growth outlook for this and next year combined is the highest in the OECD at two-point-one percent. He added that Turkey is expected to follow at one percent growth, then the United States with point-two percent.

The secretary called this a "rediscovery" of Korea's global economic standing.

Lee also explained that the country's fiscal soundness is favorable and noted that the average increase in national debt in advanced nations is expected at 26 percentage points compared to Korea's seven-point-six.

He also described the Seoul government's policy measures on providing financial relief for companies as "bold, preemptive and unprecedented."

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