South Korea teeters on edge of (another) fiscal cliff

April 9, 2015 9:24 AM

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By Choonsik Yoo SEOUL, April 9 (Reuters) - South Korea's persistently rosy assumptions about government finances risk derailing public spending in a year when exports and other engines of growth are sputtering.

The government expects its 2015 revenue to rise 8.1 percent from last year's actual receipts. But that target is increasingly looking elusive. The goal is based on assumptions of 4 percent economic growth and 2 percent inflation, both about 1 percentage point above market estimates. Even the central...

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