S.Korea's President Moon pledges to prepare bold measures to prop up consumption

Gross domestic product in the first quarter is expected to have recovered to near pre-coronavirus levels

  
South Korean President Moon Jae-in, speaks during a ceremony of the 102nd anniversary of the March 1st Independence Movement Day in Seoul, South Korea, March 1, 2021. Pool via REUTERS

South Korean President Moon Jae-in, speaks during a ceremony of the 102nd anniversary of the March 1st Independence Movement Day in Seoul, South Korea, March 1, 2021. Pool via REUTERS

SEOUL - South Korea's President Moon Jae-in on Thursday pledged the country will prepare bold measures to boost consumption as soon as the coronavirus situation settles.

"(The government) will continue to seek more policy measures to support economic recovery, while maintaining an expansionary fiscal policy," Moon told a meeting.

He added gross domestic product in the first quarter is expected to have recovered to near pre-coronavirus levels, thanks to a stronger-than-expected recovery in exports and investment.

(Reporting by Joori Roh; Editing by Toby Chopra) ((joori.roh@thomsonreuters.com; +82 2 6936 1493;))

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