South Korea's finance minister vows to map out aggressive fiscal policy

South Korea's finance minister said Friday that he will come up with aggressive fiscal measures for the second half in order to get over rising downside pressures at home and abroad, giving hints that the government is considering drawing up an extra budget, Yonhap News Agency reported. 
"The government will seek economy-boosting measures along with aggressive fiscal intervention," Finance Minister Yoo Il-ho said in a meeting with the heads of state-run and private think tanks in Seoul. 
"The economy shows tepid signs of recovery as faltering exports weigh heavily on domestic demand, dragging down facility investment and undermining the job market." The finance minister had adamantly opposed plans to raise an extra budget to achieve the government's 3.1 percent growth target for 2016, while major international organizations and local think tanks cut the forecast below the 3 percent line. 
South Korea's exports fell 6 percent on-year in May, marking a record 17-month losing streak, while industrial output fell 2.8 percent in April from a year ago, posting negative growth for the second consecutive month and widening its downward pace from March.

Source: QNA