President Moon: "There Are Variables Like Variant Viruses... Allocate Vaccine Budget Generously" (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in received a report on next year's budget proposal from Deputy Prime Minister for Economy Hong Nam-ki and, considering variables such as variant viruses, instructed to "allocate the vaccine budget generously."

Park Kyung-mi, the Blue House spokesperson, stated in a briefing on the afternoon of the 20th, "President Moon received a report on the 2022 budget proposal from Deputy Prime Minister Hong this morning," and revealed this.

On this day, the Ministry of Economy and Finance reported that next year's budget proposal was prepared as a budget to lead a complete recovery from the COVID-19 crisis, a new leap forward, support the completion of the Moon administration's five years, and back the 100 national tasks.

In response, President Moon said, "Since this is an extraordinary situation, a crisis recovery budget is necessary, and efforts must continue to balance expansionary fiscal policy and fiscal soundness. Although the vaccine purchase budget appears to be sufficiently allocated, considering various variables such as the emergence of new variant viruses or lowering the vaccination age, allocate the vaccine budget generously to be fully prepared for COVID-19 response," he instructed.

Regarding carbon neutrality, he also evaluated, "It is appropriate to expand fiscal investment in carbon neutrality, such as financial support for the seasonal management system of coal power plants. To achieve the currently discussed carbon reduction targets, all citizens must work together, and since the lower limit of the reduction target has been set, efforts should be made to achieve beyond that if possible," he emphasized.

He also noted that while many European countries set their 2030 greenhouse gas reduction targets (NDC) based on 1990, and the United States based on 2005, South Korea uses 2018 as the baseline, making it difficult to compare NDCs on a flat basis.

President Moon evaluated, "The budget for supporting small business owners, expanding child allowances, national scholarships, and accelerating the distribution of electric and hydrogen vehicles are very necessary measures."

He also mentioned the 'Support Plan for Credit Recovery of Diligent Delinquents' specifically prepared, which was mentioned at last month's staff meeting and the Ministerial Meeting on Livelihood Economy. President Moon said, "I hope that credit recovery support will greatly help about 2.3 million citizens struggling due to COVID-19 to return to normal economic life. The system will be implemented in October as soon as it is ready, so please make thorough preparations."

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