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Policy Issue
Economic Policies, H2 2020

2020 Outlook - Growth: Annual growth of 0.1 is expected. Domestic demand and exports are projected to slow down due to low confidence and weak global market. The economy is expected to be propped up by expansionary fiscal policies, including supplementary budget spending. - Employment: The economy is expected to maintain jobs at the same level as last year, the employment rate falling somewhat to 66.4 percent. - Inflation: The annual consumer price inflation is projected to be 0.4 percent due to low oil prices and weak demand. - Current account balance: Current account surpluses are expected to decline to US $58.0 billion amid slowing exports. Second Half Economic Policies The second half policies focus on overcoming the COVID-19 crisis and preparing for a post-COVID 19 economy. Key policies are as follows: 1)Help the economy ride out the crisis 2)Stimulate the economy 3)Strengthen risk management 4)Work for the development of future growth engines 5)Pursue restructuring 6)Strengthen social safety nets * For further details, please refer to the attached file

Jun 2020
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