Economic Bulletin | KDI 경제교육·정보센터

KDI 경제교육·정보센터

Economic Information and Education Center

Policy Issue

2019 Economic Policies

2019 outlook - Growth: Annual growth of 2.6~2.7 percent, similar to this years, is expected. Exports are projected to grow at a slower rate, and growth will be supported by investment boosting policies and expanded welfare expenditures. - Employment: A total of 150,000 jobs are expected to be added to the economy, the employment rate improving from 66.7 percent to 66.8 percent. - Inflation: The annual consumer price inflation is projected to be 1.6 percent, staying stable from the previous year, as oil prices will go down, and fresh food and service prices will become stable. - Current account balance: Current account surpluses are expected to decline to US $64 billion, as export growth is projected to slow down in line with slowing global trade and ongoing trade conflicts. Exports are projected to grow 3.1 percent, and imports to rise 4.2 percent. Framework for the 2019 policies The 2019 policies have been devised, with a long-term goal of inclusive growth in mind, as well as the administrations three pillars: income-led growth, innovative growth (growth led by industrial innovation), and a fair economy (an economy that works for all). The framework for the 2019 policies is as follows: - Boost the economy - Work on industrial restructuring - Pursue inclusive growth - Address mid- to long-term challenges * For further details, please refer to the attached file

Dec 2018