[2023 National Audit] Choo Kyung-ho "This Year's National Debt Interest 25 Trillion Won... Impact of Interest Rate Increase"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated on the 27th that this year's national bond interest will reach around 25 trillion won.

On the same day, during the second day of the comprehensive audit of the Planning and Finance Committee held at the National Assembly, Deputy Prime Minister Choo responded to a question from Yoon Young-seok of the People Power Party regarding national bond interest costs, saying, "I think it will be close to about 25 trillion won."

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho is delivering opening remarks at the Price Stabilization Meeting of Related Ministries held at the Government Seoul Office in Jongno-gu, Seoul on the 17th. Photo by Kang Jin-hyung aymsdream@

When Representative Yoon asked, "Last year's national bond interest was 21.1 trillion won, so is it increasing by about 15% to 20%?" Deputy Prime Minister Choo said, "The amount of national bond issuance is an issue, but the biggest reason is that interest rates are rising."

Regarding the sluggish facility investment by large corporations, Deputy Prime Minister Choo said, "The domestic investment sluggishness seems to be due to various uncertainties causing corporate investment sentiment to be somewhat restrained," and added, "I cautiously expect that facility investment will gradually improve."

On the macroeconomic trend, he reaffirmed the previous position that "it is proceeding along the path originally anticipated by the government," and said, "The only variable is the recent 'Israel-Hamas conflict,' and we are closely monitoring what impact it may have."

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