“To Achieve the Growth Target of 4 Percent by Spending Money in the First Half of Next Year“

The government decided to achieve the growth target of 4 percent by expanding the budget spending and circulating enough market funds. The government also decided to move up the schedule for the privatization of financial organizations, such as banks into which the public funds were invested, and to complete the structural adjustment, such as the liquidation of the insolvent companies and the privatization of the state-run corporations.

Deputy Prime Minister and the Minister of Finance and Economy Jin Nyum participated in an extended executive staff meeting of the Millennium Democratic Party yesterday and explained the direction of the economy operation for next year.

Jin said, "A full-scale economic recovery will begin in the latter half of next year, as exports and investment will increase from the latter half of next year, and the 5 percent of the economy growth would continue for more than two quarters. The government would adopt a necessary budget and financial policy to materialize the 5 percent growth in the latter half of next year."

Jin also revealed the next year`s plans to stimulate the facility investment, develop new industries, create more jobs for the younger generation, promote the stabilization of living for the underprivileged, settle the regional disparity, and to establish the mid-and long term agricultural and service business measures in preparation for the launch of Doha Round.

Jin requested lawmakers to pass the reform bill on the railroad industry and the reform bill on the fund management in the National Assembly within this year, saying "we need cooperation from the National Assembly to push forward with these tasks without snag."

Meanwhile, the government decided to conclude the investment agreement with the U.S. and Japan, while preparing for a plan to actively participate in the restoration business in Afghanistan and Balkan Peninsula.

hcs@donga.com