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S. Korea's economy to keep steadily recovering: minister
제목 없음 South Korea's economy will keep steadily recovering despite mounting downside risks stemming from the global fiscal crisis, the nation's top economic policymaker said Wednesday.

   "Although economic downside risks are expanding from the global fiscal crisis, (our economy) will continue its steady recovery given the current export and domestic demand conditions," Finance Minister Bahk Jae-wan said in an economic policy coordination meeting.

   His remarks came on the heels of the announcement of the nation's industrial output data for July. Industrial output rose 3.8 percent last month from a year earlier but it contracted 0.4 percent from a month earlier.

   Bahk said that the contraction is attributable to one-off factors such as summer vacations, heavy rains and smaller government spending on infrastructure during the month. "We expect things will improve from August as those factors will be out of the picture," he noted.

Source: Yonhap News (August 31, 2011)

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