Lee says rebound in potential growth rates should lead to balanced growth
President Lee Jae Myung said Thursday that the recent rebound in the country's potential growth rates signals a recovery in the national economy's fundamentals and that the trend should help promote balanced growth of both large and small firms. The president made the remarks at a meeting with his senior aides, citing a recent International Monetary Fund (IMF) report projecting the country's…
President Lee Jae Myung stated on Thursday that the recent increase in South Korea's potential growth rates suggests a resurgence in the nation's economic fundamentals. He emphasized that this positive trend should contribute to a more equitable distribution of growth across both large and small enterprises. Lee made these comments during a gathering with his senior advisors, referencing a recent International Monetary Fund (IMF) projection that forecasts the country's potential growth rate at 2.14 percent this year and 2.2 percent by 2027.
These figures represent the inaugural consecutive annual rise in economic growth rates in nearly 40 years.
The president hailed the rebound in potential growth rates as a significant development, viewing it as a strengthening of the economic foundation. Lee noted that this positive trend should serve as a catalyst for promoting sustainable and balanced economic growth. He highlighted the need to further enhance the competitiveness of artificial intelligence and other advanced industries, while simultaneously directing financial and policy resources towards sectors experiencing slower recoveries.
The president stressed the importance of leveraging this rare rebound in potential growth rates to drive long-term economic stability and equitable development.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
