Prime Minister Kim Min-seok said on the 10th that "at this point, (national) liability is at a manageable level."
Kim appeared at a National Assembly interpellation session on the economy that day and answered this when Yoon Young-seok of the People Power Party asked, "We need to manage national liability well; what is the plan?"
Kim said, "I don't think anyone believes the increase in national liability is no big deal," but added, "When we look at the economy, we consider not only liability but also various factors including the growth rate."
Kim went on, "Fortunately, at this point, liability is at a manageable level compared with other countries and has not reached a relatively excessive level," adding, "I think an appropriate policy now is to restore the growth rate while managing the liability issue you are concerned about."
Last year, Korea's economy saw its growth slow sharply due to weak domestic demand and other factors. According to the Bank of Korea, the annual economic growth rate last year was around 1%, and the real gross domestic product (GDP) growth rate in the fourth quarter last year was -0.3% from the previous quarter.