Deputy Minister Koo Yoon-chul: "New Coronavirus Risk Factors... Finance Must Play an Active Role"

Koo Yoon-chul, Vice Minister of Strategy and Finance, is presiding over the 'Vice Ministers' Breakfast Meeting of Major Ministries to Enhance Fiscal Execution' held at a restaurant near Gwanghwamun on the 6th.

[Asia Economy Reporter Kim Min-young] Koo Yoon-chul, the 2nd Vice Minister of the Ministry of Economy and Finance, emphasized that fiscal policy must play an active role in responding to downside risks in the economy.

On the 6th, at the 'Vice Ministers' Breakfast Meeting of Related Ministries to Enhance Fiscal Execution in Q1 2020' held at the Seoul Conference Center, Vice Minister Koo stated, "Unexpected risk factors such as concerns over the spread of the novel coronavirus infection are emerging," emphasizing the need for an active and swift fiscal response.

He said, "There are positive signs of economic recovery, such as the three major indicators of production, consumption, and facility investment improving for two consecutive months, and both the leading and coincident economic indices rising together," adding, "When the private sector is facing difficulties, the government must take the lead and fulfill its role, one of which is to execute fiscal policy quickly as planned."

Vice Minister Koo urged, "With the efforts in execution last year, the spark for our economy's rebound has been prepared. I ask all ministries to fully commit to fiscal execution so that this can lead to an overall economic recovery, including the private sector."

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