Economics
MERS Prompts Fiscal Stimulus in Korea as Confidence Falls
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South Korea plans a stimulus package of more than 15 trillion won ($13.5 billion) to cushion the economic impact of a deadly respiratory disease and a drought.
The finance ministry announced the stimulus Thursday while cutting its outlook for economic growth this year to 3.1 percent and slashing its inflation projection to 0.7 percent. The package will include a supplementary budget, the ministry said, without outlining how much of the spending will be new outlays.