[Economy 365]
The decline in apartment prices in Seoul was larger than the previous week.
According to the Korea Real Estate Agency, apartment prices, which fell 0.03% last week, fell 0.04% this week, continuing the decline for the seventh week in a row.
The drop was particularly large in Nowon-gu and Dobong-gu, dropping 0.1% and Gangbuk-gu by 0.09%.
Yongsan-gu also fell 0.01% this week, turning the decline for the first time in 16 weeks.
As pressure to raise the key interest rate continues, properties have accumulated and buying sentiment has shrunk.
---
As of May of this year, it has been shown that the national budget deficit has exceeded 70 trillion won.
According to the Ministry of Strategy and Finance, the managed fiscal balance recorded a deficit of 71.2 trillion won from January to May of this year, almost double the 37.9 trillion won a month ago.
The government said the deficit was caused by the concentration of the second supplementary budget project, including 23 trillion won in loss compensation for small businesses.
As of the end of the year, the fiscal deficit is expected to rise to 110.8 trillion won.
---
The import price index rose for the second month in a row as international oil prices rose.
The import price index, which shows the won-equivalent price of imported products, stood at 154.84 as of June, up 0.5% from the previous month.
This is a 33.6% increase compared to June last year.
The import price index fell along with the drop in oil prices in April, but has continued to rise after rebounding in May.
---
The government has come up with a measure to change the debt burden of the vulnerable, such as ordinary people and small business owners, from deferment of repayment to relief.
The government purchases 30 trillion won worth of non-performing loans through the Startup Fund to adjust debt.
The deferral period is up to 1 to 3 years, and the loan interest rate is also lowered for long-term and amortization.
For borrowers who are insolvent for more than 90 days in arrears, the principal will be reduced by up to 90%.
In addition, it plans to invest 8.7 trillion won to convert high-interest loans of more than 7% per annum into low-interest loans.