Hong Nam-ki: "Even if the ruling and opposition parties agree to increase the supplementary budget, the government opposes it"

Deputy Prime Minister for Economy Hong Nam-ki is attending the plenary meeting of the Planning and Finance Committee held at the National Assembly on the 4th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Hong Namgi stated on the 4th that the government would oppose even if the ruling and opposition parties agree to increase the supplementary budget.

Deputy Prime Minister Hong made this remark during his appearance at the National Assembly's Planning and Finance Committee when Democratic Party lawmaker Woo Wonsik asked, "Can you cooperate to proceed with this supplementary budget based on the ruling party's proposal of 35 trillion won?"

Deputy Prime Minister Hong said, "I believe that the government expenditure scale of 14 trillion won needs to be respected by the National Assembly," adding, "It is appropriate for the supplementary budget discussion to be conducted within the scale submitted by the government." He continued, "The government has comprehensively considered the necessity of various supports to provide the most substantial assistance to small business owners affected," and added, "However, considering the significant impact on inflation and the government bond market, we submitted the supplementary budget to the National Assembly at the scale of 14 trillion won after comprehensive consideration."

When asked how he would respond if the ruling and opposition parties agree together, he said, "I would not easily agree," and added, "Regarding the increase, I think the executive branch's own judgment should be considered rather than being bound by the ruling and opposition parties' agreement."

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