This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
South Korea's economy is expected to grow by 4% this year.
Central Bank of South Korea left the base interest rate unchanged
At the same time, the government announced plans to increase spending, seeking to stimulate economic growth.
The seven-day refinancing rate remains at 2,5% for 12 for consecutive months, according to the Bank of Korea.
This coincides with the forecast of economists surveyed by Bloomberg.
The government plans to spend 57% of possible budget funds in the first half of the year, in order to support consumption.
The authorities are facing a fall in tourist spending due to the accident on the ferry, as well as due to the increase in the Won exchange rate against the dollar to a maximum of six years, which risks reducing exports.
Asia's fourth largest economy is expected to grow by 4% this year.
Over the past year, won has increased by 6,7%, while most other Asian currencies have fallen.
The head of the Central Bank of South Korea this week said that the authorities are ready to take steps to stabilize the currency if necessary.