Economic Policies, H2 2019 and 2019 Tax Revision Bill
2019 outlook - Growth: Annual growth of 2.4 - 2.5 percent is expected, a downward revision from the original outlook made at the beginning of the year (2.6 - 2.7 %). Exports and investment are projected to slow down, and growth will be supported by supplementary budgets, as well as by measures to boost exports and investment. - Employment: A total of 200,000 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 0.9 percent due to low oil and fresh food prices. - Current account balance: Current account surpluses are expected to decline to US $60.5 billion amid slowing exports. Service balance is expected to improve somewhat. Second half economic policies The government will pursue the three pillars over the second half: Boosting the economy, restructuring industries and seeking inclusive growth. 2019 Tax Revision Bill The 2019 tax revision focuses on the following. - Boosting the economy and supporting industrial innovation - Pursuing inclusiveness and fairness - Broadening the tax base and improving the tax system * For further details, please refer to the attached file
Jul 2019