KDI Economic Outlook 2020-1st Half Outlook for Korea’s Macroeconomic Path: Based on the Spread of COVID-19 May 20, 2020
KDI Economic Outlook 2020-1st Half
Outlook for Korea’s Macroeconomic Path: Based on the Spread of COVID-19
May 20, 2020
- Summary
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■ The analysis finds that Korea’s GDP will most probably slip significantly below the previous path due to COVID-19, and the future trend is still very uncertain.
■ Short-term responses to the pandemic should focus on the prevention of a further spread while at the same time policy programs are put into place to mitigate the negative economic impact and reboot the economy,
■ After the COVID-19 crisis, efforts must be made to prevent temporary countermeasures from damaging productivity and efficiency of resource allocation.
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