(Seoul = News 1) Reporter Won Tae-sung, Lim Se-won, Lim Yoon-ji = The Democratic Party of Korea said on the 18th that the first supplementary budget (extra budget) reported by the government is close to the size the party thinks.
"The minimum amount of extra budget that the party has been raising since the beginning of this year was 35 trillion won," Democratic Party Policy Committee Chairman Jin Sung-joon told reporters after a meeting of the party, the government and the presidential office.
The second supplementary budget also includes universal support for people's livelihood recovery support, which is the basic principle of the party. "The biggest interest was whether the supplementary budget would reflect the public welfare recovery support and consumption coupon projects, which are reflected," he said. "The party continued to emphasize its position that support for people's livelihood recovery should be provided universally to all citizens, and the government also received this position and designed (a subsidy for people's livelihood recovery) as a principle of universal support."
Chairman Jin said, "Furthermore, it reflects the president's willingness and the government's opinion to provide additional support to vulnerable groups such as recipients of basic living and secondary income, and we welcome it greatly because it is not different from the party's existing position."
In addition, the public welfare recovery support fund also included additional support for local regions such as population-extinct areas.
"In today's party-government consultation, special attention is needed on the areas where the population has disappeared," Jin said. "The party asked the government to actively reflect this point because it needs preferential treatment for the provinces rather than the Seoul metropolitan area. So, in addition to the additional support for the vulnerable, we asked the government to provide additional support for local residents, including those in the areas where the population has disappeared, and the government decided to actively accept it."
However, he added, "Due to the government's administrative procedures, the government's extra budget plan will be resolved at the Cabinet meeting tomorrow, so it will be difficult to submit (additional local support) to the National Assembly," adding, "There was a response from the government that the government would accept the party's opinion and reflect it in the budget review at the National Assembly."
Chairman Jin also said, "Local currency was additionally reflected (in the second supplementary budget)," adding, "At the time of the supplementary budget earlier this year, at least 1 trillion should be included, but 400 billion was reflected, but the second supplementary budget reflected the local currency issuance budget."
In order to revive the sluggish domestic demand, the supplementary budget is being finalized to some extent in the second round.
I think the third round may be organized in the second half of the year.
The scale is expected to be around 20 trillion won, but some are concerned about inflation
What seems useless is that considering the size of Korea's economy
This supplementary budget has no significant impact on the whole.
In addition, it must be consumed as much as it is provided in local currency
Even if it is used several times, it will be recovered to some extent as tax revenue, so the government's finance is more than expected
It doesn't have much impact.
What's important is that domestic demand is so depressed right now
We need to give some vitality to economic activities, psychologically and practically.
to reorganize to a certain extent while watching the prompt execution and development
I look forward to active fiscal policy implementation.