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KDI 경제정보센터

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Policy Issue

Economic Policies, H2 2019 and 2019 Tax Revision Bill
Jul 2019
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
KDI 경제정보센터