Arab Today, arab today s korea\s president country\s economy is strong
Last Updated : GMT 23:09:18
Arab Today, arab today
Arab Today, arab today

S Korea\'s president :Country\'s economy is strong

Arab Today, arab today

Arab Today, arab today S Korea\'s president :Country\'s economy is strong

Seoul - Qna

South Korea\'\'s President Lee Myung-bak said Monday South Korea\'\'s economy is faring well despite the global fiscal crisis, with its national debt at a low level and exports remaining brisk, stressing that excessive concerns won\'\'t do any good in overcoming the crisis. \"We have surmounted the previous global financial crisis in the fastest and most successful fashion in the world. I can assure you that the Korean economy is strong enough for our people to have confidence,\" Lee said in his biweekly radio address. The country\'\'s national debt represents 33 percent of its gross domestic product, only a third of the average 98 percent of the members of the rich nations\'\' club of the Organization of the Economic Cooperation and Development, Lee said. After going through the foreign exchange crisis and financial crisis, South Korea\'\'s soundness in the areas of foreign exchange and liabilities has been drastically improved, with various measures now in place to stave off any sudden influx or outflow of capital, Lee said. South Korea\'\'s President also stressed that the current account balance has continuously remained in the black due to strong exports, a result of efforts by local companies to diversify export markets to lessen dependence on exports to advanced countries. Exports to emerging markets now account for 73 percent of total exports, up from 51 percent in 2001, he said. South Korea\'\'s trade volume is expected to reach US$1 trillion this year, he said.  

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