President Moon Encourages Hong Nam-ki: "Economic Commander-in-Chief Is Performing Comprehensive Role Well"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-joo] On the 13th, President Moon Jae-in told Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance, "Among the 37 OECD countries, South Korea's growth rate is projected to be the highest, which shows that the Deputy Prime Minister is performing well in his comprehensive role as the economic commander."

President Moon made this remark during a mid-term briefing on the 2021 budget proposal and encouraged Hong Nam-ki to confidently push forward with policies, White House spokesperson Kang Min-seok conveyed in a written briefing.

The briefing took place from 3 p.m. and lasted for 2 hours and 20 minutes. At the meeting, Deputy Prime Minister Hong reported that given the global economic uncertainties and the urgent need to overcome the COVID-19 crisis, the next year's budget was formulated as a budget to swiftly and strongly drive economic recovery.

He also explained that under an active fiscal management stance, the budget sufficiently reflected the 'Korean New Deal,' a leading national development strategy, as a catalyst fund.

Deputy Prime Minister Hong also specifically reported on plans to establish a 'Citizen Participation Korean New Deal Fund' to ensure that the abundant liquidity in the market is invested in the Korean New Deal sectors and that the results are shared with the public.

Spokesperson Kang stated, "The government plans to finalize the next year's budget proposal after consultations between the ruling party and the government before submitting it to the National Assembly."

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