S. Korea to post 'small' current account surplus in Aug.: ministry

SEOUL, Sept. 3 (Yonhap) -- South Korea will likely post a "small" current account surplus in August but the surplus is expected to be scaled down in the second half from six months earlier, the finance ministry said Thursday.

The current account surplus reached US$4.4 billion in July, down from $5.43
billion the previous month, the Bank of Korea said in an earlier report. The
country registered a cumulative surplus of $26.15 billion in the first seven
months of this year.
The ministry also forecast that South Korea's gross domestic product will likely
expand 1 percent in the second half from the first half. It "would not be tough"
for the country to achieve its annual growth target of minus 1.5 percent for the
whole year, it added.
Citing the many uncertainties that lie ahead as the global economy attempts to
recover, including a potential oil price spike, the ministry said it will
frontload an additional 10 to 12 trillion won in the third quarter of this year
by tapping the fourth-quarter budget.
kokobj@yna.co.kr
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