홍남기 "확장재정 불가피…내년 국가채무비율 40% 돌파"<br /><br />South Korea's finance minister Hong Nam-ki has stressed the need for expansionary fiscal policies,... despite the country's growing debt.<br />Speaking to reporters on Thursday,... Hong said the country's debt-to-GDP ratio will surpass 40 percent next year,... given a decline in tax revenue as well as expansionary policies.<br />The finance ministry expects the ratio, typically seen as a measure of fiscal soundness, to hit 40-point-2 percent in 2020,... topping the 40 percent mark for the first time.<br />The minister said that expansionary policies are needed... to revitalize the economy and support structural reform.<br />As for the volatility in the foreign exchange market amid heightening trade tensions between the U.S. and China... Hong said that the government will take measures in case of instability.<br />The finance minister also brushed off speculation about redenominating the Korean currency that is, knocking zeroes off its nominal value saying that the government has no plans to do so. <br />