Prime Minister Kim Opens Possibility of 'Supplementary Budget Increase': "If Parliament Agrees, Will Actively Consider"

[Asia Economy Sejong=Reporter Son Seon-hee] Prime Minister Kim Boo-kyum stated on the 7th regarding the supplementary budget (추경) bill, "If the National Assembly, representing the people, agrees that reasonable support for small business owners and self-employed individuals is absolutely necessary, the government will do its utmost to actively come up with a rational plan." This remark is interpreted as leaving open the possibility of an increase in the supplementary budget amid a tense tug-of-war between the government and political circles over the 'increase of the supplementary budget bill.'

On the morning of the same day, Prime Minister Kim attended the National Assembly Budget and Accounts Special Committee meeting held to review the supplementary budget bill and said in his greeting, "Since the goal is quarantine and livelihood support, speed is important for this supplementary budget."

In particular, Prime Minister Kim mentioned, "Ultimately, funding is key to providing additional and sufficient support," and added, "The realistic means we currently have are bond issuance and expenditure restructuring." With only one month having passed since the execution of this year's main budget, the financial authorities had been negative about expenditure restructuring proposed by the People Power Party as a funding measure. However, by leaving open the possibility of securing funds through expenditure restructuring, the likelihood of increasing the supplementary budget bill, which was originally composed of about 14 trillion won through bond issuance, has increased.

Prime Minister Kim emphasized again, "Although time is limited, if the National Assembly and the government put their heads together, I believe we can definitely find an answer within the set deadline," and added, "The government will actively review reasonable alternatives proposed by the committee members during the Budget and Accounts Special Committee deliberations."

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