Vice Minister Ki Jae: "44% of the 3rd Supplementary Budget Executed in One Month, Will Revive Economic Momentum"

[Asia Economy Reporter Jang Sehee] The government executed 44.0% of the 3rd supplementary budget within one month through active fiscal management.

On the 31st, Ahn Il-hwan, Vice Minister of Strategy and Finance, stated in his opening remarks at the Fiscal Management Inspection Meeting held at the Government Seoul Office, "As of the 29th of this month, less than a month since the start of the 3rd supplementary budget execution, 8.4 trillion won has been spent, showing a high execution rate of 44.0%."

Vice Minister Ahn emphasized, "Active and bold fiscal management has contributed to our economy achieving relatively favorable results compared to other countries, despite the unprecedented difficulties faced worldwide."

He added, "In the second half of the year, fiscal policy should not only serve as a strong support for the people and businesses but also act as a catalyst to revive the spark of economic recovery and leap forward as a leading economy."

Meanwhile, the government planned to execute 75% of the major project expenses amounting to 19.1 trillion won, excluding revenue adjustments (11.4 trillion won), contingency funds (1.2 trillion won), and reserve fund-type projects (3.4 trillion won for unemployment benefits), by the end of September, following the enactment of a 35.1 trillion won supplementary budget last month.