Lee Jae-myung: "If You Increase Welfare, Will It Collapse Like Venezuela? Totally Fake News"

Gyeonggi Province Governor Lee Jae-myung held a briefing on the morning of the 9th at the Gyeonggi Provincial Government Office in Suwon, Gyeonggi Province, announcing a plan to provide consumer support funds to revive local businesses affected by the COVID-19 pandemic. 2020.9.9 [Photo by Yonhap News]

[Asia Economy Reporter Nahana] Lee Jae-myung, Governor of Gyeonggi Province, called the People Power Party's claim that "increasing welfare will lead to a situation like Venezuela" a "complete fake news."

On the 27th, Lee wrote on his Facebook, "People Power Party, stop the fake news now. Politics should not deceive the people with lies or slander opponents," expressing his stance.

He added that the People Power Party and independent lawmaker Hong Joon-pyo's remarks that "increasing welfare and national debt will lead to Venezuela" are "baseless claims that the People Power Party has long used as a scapegoat to block the Democratic Party government's welfare expansion."

He pointed out, "Even in the face of the COVID-19 economic crisis, when fiscal spending and national debt issuance are expanding worldwide, they still invoke 'Venezuela'."

He continued, "Venezuela did not collapse because of welfare but because of economic sanctions imposed by the United States," and said, "Venezuela's national debt ratio is still only in the 20% range," criticizing, "The claim that Venezuela collapsed due to national debt is complete fake news."

Earlier, on the 23rd, lawmaker Hong criticized Lee during a confrontation over the 4th supplementary budget, saying, "If Moon Jae-in's style of governance is the slow train to Venezuela, Lee Jae-myung's style is the express train to Venezuela," and warned, "It will ruin the country."