Ruling Party: "People Power Party's Criticism of the Budget Bill Is Forced and Distorted"

[Financial News] On the 2nd, the Democratic Party of Korea countered the People Power Party's criticism of "fiscal recklessness" regarding next year's government budget proposal, which amounts to a record-high 820.9 trillion won, calling it "distorted."
Democratic Party floor leader Han Byung-do stated at the Supreme Council meeting in Sejong City that day, "As soon as the outline of the 2027 budget bill emerged, the People Power Party began inciting public anxiety by calling it a 'fiscal runaway and unmanageable' budget," adding, "The People Power Party's claims are precisely a forced argument and distortion created by looking only at the numbers they want to see."
Floor Leader Han countered, "The People Power Party is making a fuss about the national debt increasing by 106 trillion won, but as our economy grows, the national debt-to-GDP ratio will actually decrease from 51.6% this year to 48.3% next year," adding, "They are only talking about how much the debt is increasing while hiding how much the economy's capacity to handle it has grown."
He continued, "The People Power Party is also taking issue with the surplus funds of the Future Response Fund," arguing, "These surplus funds are not money to be fully spent next year. They are the nation's 'fiscal reservoir,' accumulated when tax revenues are high and utilized when revenues decline or the economy weakens, as well as strategic resources invested in fostering youth and new industries and in local regions and education."
He added, "The People Power Party's logic that these surplus funds should be used to repay government debt, referring to them as the government's pocket money, is so ignorant of how a country is run that it is even regrettable."
Democratic Party leader Kim Min-seok praised the 2027 government budget proposal, stating, "It is a bold investment that will lead the great transformation of the Republic of Korea while also guaranteeing fiscal soundness." He added, "In particular, it is a strategic budget that includes three megaprojects, the Future Response Fund, and self-reliant national defense, as well as a budget for balanced regional development and a livelihood budget that strengthens support for people throughout their life cycles."
Representative Kim added, "While the macroeconomy has recovered, with South Korea's economic growth rate rebounding and exports surpassing $100 billion for the first time in history last June, placing the country at roughly the world's fifth-highest level, it is true that the public's perception of the economy falls short of this." He further explained, "During the National Assembly's deliberation process, we will examine this budget bill in a way that ensures the fruits of growth are shared evenly among the people, so that we can achieve a tangible recovery in the people's livelihoods that matches the macroeconomic recovery trend."
  
[email protected] Kim Hyung-gu Reporter