Hong Nam-ki "Considering Partial Inclusion of Debt Repayment in the 2nd Supplementary Budget"

Noksil Meeting "Coordination of Remaining Issues in Economic Policy Direction for the Second Half of the Year"

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Hong Nam-ki, Deputy Prime Minister for Economic Affairs, has instructed to consider partially reflecting national debt repayment while preparing the second supplementary budget bill for this year.

Deputy Prime Minister Hong stated this during an expanded executive meeting of the Ministry of Economy and Finance held via video conference on the 14th.

Regarding the review of the second supplementary budget and the second half economic policy direction, which is underway targeting the end of this month, Hong said, "We will carefully review the projects related to the supplementary budget and consider partially reflecting debt repayment." He also requested preparation for a closed-door meeting to coordinate the remaining issues of the second half economic policy direction.

Regarding the restructuring of social distancing measures, he encouraged actively expressing opinions in favor of easing.

Recalling that the number of confirmed cases has dropped to the 300 range for the first time in 77 days, Hong said, "If the effect of quarantine is the same, ‘100% rules + 80% compliance’ is less effective than ‘80% rules + 100% compliance,’ so actively propose opinions or plans to ease the rules under thorough quarantine."

He also mentioned that the third phase of the pan-governmental population task force is in the final stages of review and urged staff to "take measures to announce the results step-by-step as a series."

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