Second Emergency Economic Task Force Directly Led… Emphasis on Fiscal Injection for Economic Revitalization
President Lee Jae-myung chaired the second Emergency Economic Monitoring Task Force (TF) meeting at the Yongsan Presidential Office and instructed to expedite the preparation of the supplementary budget plan (extra budget).
In particular, President Lee emphasized the importance of fiscal injection for economic recovery and consumption stimulation, designating proactive support for vulnerable groups and small business owners as the top priority.
On the 9th, Kang Yoo-jeong, the spokesperson for the presidential office, briefed immediately after the meeting, stating, "The President requested to thoroughly review and collaborate closely to ensure that the core projects of the supplementary budget are well identified and that significant effects are achieved during implementation."
Emphasis on Fiscal Response to Economic Conditions… Ministry of Economy and Finance Reports on Supplementary Budget Direction
During the meeting, a practical review of the government's supplementary budget formulation direction and each department's budget injection plans was conducted.
Spokesperson Kang explained, "In line with the consensus that the role of fiscal policy should be strengthened for economic revitalization and public welfare stability, we reviewed projects that would complement construction investment and consumer sluggishness."
The first vice minister of the Ministry of Economy and Finance (acting minister) provided a comprehensive report on the basic direction of the supplementary budget, budget scale, major projects, and investment priorities. In particular, it was reported that the Ministry is focusing on specifying fiscal measures to respond to downward factors such as consumption contraction and investment slowdown.
Sharing Departmental Tasks… Coordination to Enhance Effectiveness of Supplementary Budget
At the meeting, officials from various departments including the Ministry of Science and ICT, the Ministry of the Interior and Safety, the Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, the Ministry of Small and Medium Enterprises and Startups, and the Financial Services Commission reported on their key tasks and implementation plans for the supplementary budget.
Spokesperson Kang stated, "Today's meeting was an important occasion to comprehensively review the factors to consider when formulating the supplementary budget and to coordinate each department's opinions and alternatives to enhance the efficiency and effectiveness of budget execution."
According to reports, President Lee also emphasized at the end of the meeting, "Each department must take responsibility and ensure thoroughness in the design and execution of effect-centered policies." The second supplementary budget is expected to be concretized through practical coordination centered on the Ministry of Economy and Finance and discussions in the National Assembly.
Image source: Lee Jae-myung President / News1, News1
