Government Fiscal Execution in the First Half: 289 Trillion Won... 35 Trillion Won Increase Compared to Previous Year

29th 3rd Fiscal Execution Vice Ministers' Meeting
Choi Sang-dae, Vice Minister of Economy and Finance, "Maximize Economic Boost"

Choi Sang-dae, Vice Minister of Strategy and Finance, is delivering opening remarks at the '3rd Vice Ministers' Meeting on Fiscal Execution' held on the 29th at the Government Seoul Office in Jongno-gu, Seoul.

In the first half of this year, the government executed a budget of 289 trillion won, which is 35 trillion won more than last year. Considering financial conditions, the government announced that it will respond flexibly to budget execution in the second half and actively support livelihood stabilization and the economy.

On the 29th, Choi Sang-dae, the 2nd Vice Minister of the Ministry of Economy and Finance, presided over the 3rd Vice Ministerial Meeting on Budget Execution at the Government Seoul Office, stating, “As of the 15th, a total of 289 trillion won has been executed in the first half, exceeding the same period last year by 35 trillion won.”

The budget for projects prioritized for livelihood stabilization is 87.5 trillion won, of which 62.1%, or 54.3 trillion won, has been executed. Essential living expenses for vulnerable groups amounted to 37.3 trillion won (66.8%), livelihood stabilization 6.9 trillion won (61.0%), and jobs 8 trillion won (53.9%). Regarding cooling cost support, related budgets, including 48.8 billion won for energy vouchers, were fully allocated to local governments.

In the economic revitalization sector, 13.3 trillion won (50.5%) out of a total of 26.3 trillion won has been executed. Domestic demand activation accounted for 400 billion won (49.7%), export support 1 trillion won (65.2%), and SOC projects 11.9 trillion won (49.6%).

Vice Minister Choi said, “We will continuously monitor to ensure that plans for public institutions and private investments in the second half are carried out without disruption,” adding, “We will also make efforts to actively discover new tasks to maximize the effect of economic improvement.”

He continued, “In this severe economic situation, close cooperation between ministries and between the central government and local governments is essential for efficient execution of government policies,” urging, “Each ministry should ensure thorough execution management through cooperation with local governments so that essential projects for livelihood stabilization and economic revitalization are carried out smoothly on the ground.”

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