Ministry of Economy and Finance Holds 2020 Fiscal Management Symposium... Discussing Fiscal Soundness

Discussion on Measures to Enhance Fiscal Efficiency and Fiscal Soundness

Ahn Il-hwan, the 2nd Vice Minister of the Ministry of Economy and Finance, is delivering opening remarks at the emergency fiscal management inspection meeting held on the 23rd at the Government Seoul Office in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Jang Sehee] The Ministry of Economy and Finance announced on the 15th that it held the '2020 Fiscal Management Symposium' jointly with the Korea Institute of Public Finance.

The Fiscal Management Symposium is a forum to discuss challenges and improvement measures in fiscal management. This year, given the heightened importance of the role of fiscal policy and fiscal soundness due to the novel coronavirus disease (COVID-19), discussions were held on cases of fiscal rule implementation and measures to strengthen fiscal soundness.

An Ilhwan, the 2nd Vice Minister of the Ministry of Economy and Finance, stated, "Fiscal policy is playing an active role amid the difficult economic situation caused by COVID-19," and emphasized, "It is also important to maintain the medium- to long-term sustainability of fiscal policy and to accumulate fiscal capacity to prepare for future crises."

Meanwhile, the government plans to ensure compliance with fiscal rules through continuous efforts to improve fiscal efficiency and fiscal management.

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