The nation’s fiscal shortfall is real, but budget cuts undermining key sectors could diminish future growth prospects
In recent years, the South Korean government’s budget has grappled with challenges as government spending has outpaced revenues. Factors like the aftermath of COVID-19 and financial difficulties encountered by major companies manifested in declining exports in crucial industries, exacerbating this situation. A Korea Pro analysis reveals:
In recent years, the South Korean government’s budget has grappled with challenges as government spending has outpaced revenues. Factors like the aftermath of COVID-19 and financial difficulties encountered by major companies manifested in declining exports in crucial industries, exacerbating this situation. A Korea Pro analysis reveals:
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