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South Korea President says economic impact of coronavirus will increase

Other News Materials 28 April 2020 06:37 (UTC +04:00)
South Korea President says economic impact of coronavirus will increase

South Korea President Moon Jae-in on Tuesday said the deepening impact from the coronavirus pandemic will worsen going forward, and said massive job losses are of his particular concern, Trend reports citing Reuters.

Speaking at a policy meeting, Moon said the third supplementary budget of this year is on its way, as growth readings for Asia’s fourth-largest economy are likely to worsen in the second quarter.

The coronavirus pandemic pushed South Korea’s economy in the first quarter into its biggest contraction since 2008, as self-isolation measures reduced consumption and global trade slumped.

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