Domestic demand soared in the fourth quarter of last year’s With Corona enforcement, changing the previous quarter’s -0.6 percentage point (growth contribution) to an increase of 1.1 percentage points. seems to be the cause
The growth rate of last year increased rapidly from 0% in the second quarter (0.8%, compared to the previous quarter) to 0.3% in the third quarter (0.3%) in the fourth quarter with government financial support and With Corona.
The rapid growth in the fourth quarter of last year led to a sudden increase in private consumption after a decrease (-0.2%) in the third quarter to a sharp 1.7%, and the government's contribution to growth surpassed the private sector (0.5 percentage points) by 0.7 percentage points.
The Bank of Korea's economic indicators showed that the private sector accounted for 3.2 percentage points of contribution to GDP growth last year, which is 4.5 times larger than the government's 0.7 percentage points.
Private consumption declined 5.0% in 2020, in the early stages of the corona virus, and then surged 3.6% last year.
The Korea Centers for Disease Control and Prevention (KCDC) announced 'applied with Corona from the end of October' to 'predicting up to 5,000 people if the fourth epidemic persists' in the mathematical model applying the incidence, transmission rate, fatality rate, and vaccination rate as of September 30 last year, and then on November 9 From the 1st, 3 weeks apart, 3 steps of daily recovery with Corona were enforced.
On November 29, last year, President Moon amended the “With Corona” policy to “suspend the transition to the second stage of normal recovery.”
On December 17, President Moon continued, "During the gradual recovery of daily life, the increase in the number of seriously ill patients could not be suppressed, and preparations such as securing a bed were not sufficient. Reinforced social distancing of business restrictions.
The 10th supplementary budget of the Moon Jae-in government is Δ11 trillion won in 2017 Δ3.8 trillion won in 2018 Δ5.8 trillion won in 2019 Δ11.7 trillion won in 2020 (1st) Δ12.2 trillion won (2nd) Δ35.1 trillion won (3rd) Δ7.8 trillion won (4th) ) The national debt is expected to rise from 660 trillion won in 2017 to 1,075 trillion won in 2022, with 4 additional budgets recorded in 2020, such as Δ2021 14.9 trillion won (1st) and Δ34.9 trillion won (2nd).
Last year, the annual consumer price inflation rate was 2.5%, and prices for transportation (6.3%), food (6.2%) and personal transportation equipment (11.1%) soared.
Today, the 26th, 13,012 new confirmed cases (as of 00:00), the total number of confirmed cases is 762,983.