SEOUL (Reuters) – South Korea’s finance minister said on Wednesday inflation would likely slow to the mid-2% level in the fourth quarter of this year, while reiterating the government’s stance of no requirement for an extra budget.
Minister Choo Kyung-ho said there might be some volatility in agricultural prices in the next couple months, due to supply disruptions caused by heavy rains last week, but it was not expected to affect the stabilising trend of inflation.
In response to a reporter’s question about the possibility of a supplementary budget, Choo said there were already enough financial resources to support the recovery from flood damage, during his visit to an affected site.
(Reporting by Jihoon Lee; Editing by Ed Davies)
