President Moon Urges "Parliamentary Cooperation to Consider Supplementary Budget Formulation"

"Bold Fiscal Investment Needed to Revive Contracted Regional Economy"... "Government as a Pillar to Mitigate Economic Shocks"

[Asia Economy Reporter Ryu Jeong-min] On the afternoon of the 24th, President Moon Jae-in emphasized at the Blue House Senior Secretary and Aide Meeting, "In addition to promptly utilizing the contingency fund, if necessary, please consider preparing a supplementary budget (추경) with the cooperation of the National Assembly. Crises can come at any time for individuals or the nation, and what is important is the attitude and capability to respond to the crisis."

President Moon stated, "The government, responsible for the national economy, must serve as a pillar to mitigate economic shocks and as a catalyst for economic recovery," and urged, "Since timing is crucial, I hope the government accelerates the implementation of the economic reinforcement measures currently being prepared."

[Image source=Yonhap News]

President Moon said, "Special support is especially urgent for the Daegu and Gyeongbuk regions, which are experiencing great difficulties this time. Bold fiscal investment is necessary to minimize corporate damages, stimulate consumer spending, and revive the depressed regional economy."

He added, "Whenever national difficulties arise, our people have shown resilience beyond imagination. This time as well, the high civic consciousness of our citizens is the greatest strength in overcoming difficult situations," evaluating, "The recent rent reduction movement is a representative example. The social solidarity that began in Jeonju has spread nationwide to Namdaemun Market, Dongdaemun Market, Suwon, and Sokcho, demonstrating that people can support each other."

President Moon said, "While the virus can spread anxiety, it cannot break people's will. If we trust our crisis overcoming capabilities and unite our efforts to overcome the infectious disease and restore economic vitality, we will surely overcome the current difficulties."