Yoon Hee-sook: "Moon's Policy Speech Reflects Perception That No Economic Policies Beyond Fiscal Spending Are Needed"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Yoon Hee-sook, a member of the People Power Party, criticized President Moon Jae-in's policy speech, saying it "blatantly showed the perception that no economic policy other than fiscal spending is necessary."

On the 28th, Rep. Yoon stated on Facebook, "Today’s policy speech by President Moon clearly reflected the government's perception of the economy."

She said, "From beginning to end, it was just about creating a few jobs by injecting fiscal funds," and questioned, "If jobs could be mechanically created like vending machines by pouring in national finances, economic growth would follow just by spending government money. So why is there not a single advanced country that has boosted its economy through fiscal spending?"

Rep. Yoon acknowledged, "I deeply agree that support funds for public jobs or employment retention during the COVID-19 phase are important," but pointed out, "When it comes to creating private sector jobs, the content was limited to 'injecting 21.3 trillion won of next year's national budget into the Korean New Deal to create 360,000 jobs,' which was disappointing."

She criticized, "It is as if the government declares that as long as fiscal spending is injected, jobs can be created regardless of job quality, and that this is the alpha and omega of economic policy," adding, "Economic innovation, structural reform, strengthening the economic system? This is a government that neither wants to think about nor talk about such things."

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