Choi Hyung-doo "4.4 Trillion Won Supplementary Budget with Execution Rate Less Than Half... Main Budget Needs Restructuring"

Populist Budget Allocations as Funding for COVID-19 Measures

Choi Hyung-doo, Floor Spokesperson of the People Power Party [Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] Choi Hyung-doo, the floor spokesperson of the People Power Party, stated on the 15th that instead of preparing a supplementary budget, the main budget should be reorganized to support self-employed individuals and others.

In a commentary on the same day, Spokesperson Choi pointed out, "It has been revealed that among the supplementary budgets prepared and passed four times last year, there is over 4.4 trillion won in budgets with an execution rate of less than half," adding, "Nearly 10% of the total supplementary budget amounting to 51.3 trillion won has not been properly allocated to the field."

He continued, "Among the 491 projects in the four rounds of supplementary budgets, 54 projects, accounting for 11%, have an execution rate below 50%," and "There are even 18 projects with an actual execution rate below 10%." He also added, "The government and ruling party, which have borrowed four times through supplementary budgets but failed to use them properly, now say they will collect a large amount again," emphasizing, "Though it is called national debt, it is ultimately the blood tax of the people and a debt that innocent future generations will have to bear."

Spokesperson Choi emphasized, "The main budget must be reorganized first," and stated, "Unnecessary and populist budgets should be reorganized into a 'COVID-19 disaster budget.'"

This content was produced with the assistance of AI translation services.