South Korea finance minister sees local economy lagging prior forecast

[SEOUL] South Korea's finance minister said on Thursday the local economy will lag the growth path forecast earlier by the government due to the ongoing outbreak of Middle East Respiratory Syndrome (Mers).

"Mers will affect the economy for a considerable time even after the virus outbreak subsides," Finance Minister Choi Kyung Hwan said in a meeting with lawmakers to discuss economic policy for the rest of the year.

Mr Choi added the virus has affected the economy much faster than did a ferry sinking last year that killed more than 300 people and dented consumer sentiment.

REUTERS