“The Korean version of the New Deal, the next government should also focus on promoting it…Necessary to introduce fiscal rules”
(Seoul = Yonhap News) Reporter Kim Seung-doo = Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki presides over the 58th Emergency Economy Central Countermeasures Headquarters Meeting held at the government complex in Seoul on the morning of the 28th. 2022.4.28 [email protected]
(Sejong = Yonhap News) Reporter Kwak Min-seo = Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki said, “It is important to stabilize the real estate market, which are the biggest issues facing our economy, stable management for downward stabilization, price stability, and financial market volatility control.” said on the 28th.
Deputy Prime Minister Hong presided over the last meeting of the government’s emergency economy central countermeasure headquarters at the government complex in Seoul on the same day and said, “Considering the recent start of a return to daily life and the severe economic situation, managing these tasks will be very important.”
He pointed out that “multi-layered efforts are needed to support the recovery of small business owners who have suffered great difficulties due to the prolonged corona virus and to heal the scars of ‘K-shaped’ polarization.”
In addition, he emphasized, “The next government should also focus on future-ready investment policies, such as the Korean version of the New Deal policy and net zero policy, which will directly contribute to the enhancement of potential growth rate and future growth engines.”
Deputy Prime Minister Hong also explained the economic achievements achieved during the COVID-19 response process.
He said, “Compared to advanced countries, Korea has minimized the economic impact of the corona virus and achieved the fastest and strongest economic recovery. % growth,” he said.
He continued, “We have supported as much as possible overcoming the crisis such as cash support and loss compensation to the low-income class, the self-employed, small business owners, and the vulnerable class, who were hit hard during the corona crisis. The reinforcement of the safety net has been tightly institutionalized,” he pointed out.
“In this process, the national debt has inevitably increased, but it is essential to normalize the fiscal situation in an orderly manner and to introduce fiscal rules along with a step-by-step recovery of daily life in the future,” he said.
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