South Korea fin min says govt has fiscal room; direction not set for 2017

[SEOUL] South Korea's government still has some fiscal policy room but has not determined the direction for its budget for next year, Finance Yoo Il Ho said on Wednesday.

"There is room for expansionary fiscal polcy because the scale of debt is still small," Mr Yoo told reporters on the sidelines of an event in Seoul, although he added that this did not signal definite plans for spending increases.

"Based on our medium-term fiscal policy plans there will be a deficit next year, so we'll have to see whether we'll be more expansionary or less expansionary (than this year)," he said.

REUTERS