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Public sector investment to reach US$ 45 bil. this year: Finance ministry

2019-09-04 3 Dailymotion

홍남기 "공공기관 연내 55조 투자...1.6조 자금 투입 내수진작"<br /><br />The finance ministry announced this morning a range of measures to boost the sluggish local economy already struggling with falling exports and low consumer inflation.<br />Total investment this year by the public sector to reach into the tens of billions of dollars.<br />Yoon Jung-min has the details. <br />South Korea's Finance Ministry has announced a range of plans to boost the economy,... including more investment from the public and private sectors.<br />With exports weak, the idea is to revitalize domestic consumption.<br />In a meeting Wednesday with related ministers,... finance minister Hong Nam-ki said investment by public institutions will reach some 45 billion U.S. dollars within the year,... an increase of around 825 million dollars from earlier plans.<br />The government will also redirect around 1-point-4 billion dollars to boost overall investment and the domestic economy.<br />And the finance ministry, Hong said, will encourage local governments make use of subsidies that amount to some 8-point-7 billion dollars.<br />More private investment projects will be launched... including the building of logistics centers for global e-commerce as well as shopping malls,... while easing loan conditions for those buying homes that've gone unsold for a long time.<br />To help exporters, insurance premiums for exchange rate fluctuations will be lowered, and more loans will be made available to small- and mid-sized exporters.<br />To boost consumer sentiment, the government plans to provide more subsidies for those buying home appliances and issue more gift certificates for use at traditional markets or small businesses.<br />Drivers will get discounts on tolls until mid-October,... and more young people will be eligible special tour packages on Korea's national rail system.<br />Yoon Jung-min, Arirang News. <br />

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