President Lee Jae Myung Says Budget Drafting Should Not Be Obsessed With Short-Term Fiscal Figures

[Financial News] President Lee Jae Myung said on the 25th, "Now is not the time to make the mistake of becoming fixated on managing short-term fiscal figures," stressing the need for expansionary fiscal policy.
At the State Council of South Korea meeting he chaired at Cheong Wa Dae that day, Lee said, "We must firmly turn the expanded fiscal room into seeds for harvesting more fruit in the future and shift to a 'productive fiscal strategy.'"
He emphasized, "We need the wisdom to invest precious future resources more efficiently and in more productive areas, so that 10,000 won today can become 100,000 won tomorrow, and then 1 million won after that."
He also said, "The government should boldly adjust unnecessary and nonessential budgets to ensure sound fiscal management. At the same time, please complete the budget draft well, focusing on solving key national tasks such as promoting ultra-gap growth, easing K-shaped polarization, balanced regional development, talent development, and building a future ladder for young people."
Lee added, "After the budget proposal is submitted, please review any reasonable alternatives from the National Assembly or the public with an open mind." He continued, "Sometimes when the government revises a policy after accepting the National Assembly's views, it is criticized as being inconsistent. If it fails to reach agreement with the National Assembly, it is called unilateral. If we move forward, we are criticized. If we step back, we are criticized. If we stand still, we are criticized. If we lie down, we are criticized for lying down. In such cases, there is no need to be overly concerned."
He explained, "Policy is naturally something the government proposes and the National Assembly reviews before making the final decision. I hope we do not become too swayed simply because something changes during the National Assembly's deliberations."
[email protected] Choi Jong-geun Reporter