The Presidential Office said on the 23rd that the Organization for Economic Cooperation and Development (OECD)'s projection of 2.2% growth for Korea's economy next year reflects the effects of the new administration's active fiscal policy and stimulus measures such as consumption coupons.
Kang Yu-jeong, Spokesperson for the Presidential Office, said in a written briefing that "since the launch of the administration, active fiscal policy and the people's livelihood recovery consumption coupons policy have led to improved consumer sentiment," adding, "the OECD outlook assessed this." She went on to stress, "the Lee Jae-myung administration will continue to do its best to spread the warmth of recovery in the everyday economy."
The OECD put Korea's growth at 1.0% for this year and 2.2% for next year. Although this is the same as the outlook in Jun., the Presidential Office said it contrasts with the downward projections for major countries such as the United States (1.5% next year), Japan (0.5%), and China (4.4%).
Kang, the Spokesperson, also said, "the OECD expected the global economy to slow due to U.S. tariff increases and policy uncertainty, but assessed that Korea will see a broader recovery from the second half and maintain a stable trajectory into next year."