South Korea govt ready to counter economic impact of Mers

Seoul

THE South Korean government on Monday said it is ready to take swift measures to counter the negative effects on its economy from an outbreak of a deadly respiratory disease, suggesting that worried policymakers may soon deliver monetary and fiscal stimulus.

President Park Geun-hye said the negative economic effects from the outbreak of Middle East Respiratory Syndrome (Mers) should not be overlooked, while Finance Minister Choi Kyung-hwan vowed to take steps to offset any hit to growth.

"The effect from Mers on private consumption cannot be overlooked as spending and tourism are quickly shrinking," Ms Park said on Monday during a visit to the Mers response headquarters. "We can say that the virus has been driven out completely only once the economic effects are minimis…