Background of the 2022 policies
The economy is expected to continue to recover amid improving consumption, expanded investment in new technologies and construction, and brisk exports. Housing construction and SOC investment will likely turn the building industry out of a retreat. Employment is expected to improve backed by the reopening of close-contact services and policies to boost job creation. Inflation pressures may last for a while amid rising demand, but conditions for fresh food and oil supply are projected to improve.
However, we have to deal with major risks to the global economy, such as the omicron variant, supply chain disruptions and monetary policy normalization in major economies, as well as domestic issues, such as household and corporate debt run up during the pandemic. In the long-run, the economy has to overcome risks from population decline, and deal with industrial restructuring required to keep up with ‘going digital and green’, which will also raise job market issues.
Against this backdrop the government has made the country’s economic outlook for 2022 and drawn up the 2022 economic policies.
2022 economic policies
The 2022 policies were drawn up with two focuses: Help with full-fledged recovery, and promote future growth engines and work on a better future.
* For further details, please refer to the attached file