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More gov't spending will help tackle low growth: BOK Updated: 2019-09-16 08:32:03 KST

More spending by the government can help turn around the country's low growth rate.
That's according to a report by the Bank of Korea released on Monday, which shows if the government increases spending by around 850-million U.S. dollars, the country's gross domestic product would be lifted by more than one-billion dollars over five years.
That's because the private sector often increases consumption once the government injects more funds for companies and households.
A private research institute, the Hyundai Research Institute, also released a report backing the BOK document arguing the government should come up with measures to combat global downside risks.
KOGL : Korea Open Government License
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