Choo Kyung-ho "Reconsider Budget Support for Local Currency... Check Effectiveness When Preparing Next Year's Budget"

[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said on the 26th, "Extensive support for local currency through the central government budget should be reconsidered."

Deputy Prime Minister Choo stated during the government questioning session held at the National Assembly that "In the budget formulation process for next year, we are at the stage of reassessing the effectiveness of local currency from the starting point."

He said, "Local currency is originally a local government matter, but as the Gunsan region faced difficulties, some support was provided, which gradually expanded during the previous administration, and due to COVID-19, large-scale support was made through the central government budget. Experts in academia have pointed out issues regarding local currency support. Each local government should independently determine how much they will implement the projects and assess their effectiveness."

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