Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Economy and Finance, is briefing on the 2022 budget proposal and the 2021-2025 National Fiscal Management Plan at the Joint Briefing Room of the Government Seoul Office in Jongno-gu, Seoul on the 31st. Photo by Kim Hyun-min kimhyun81@
[Asia Economy Reporter Song Seung-yoon] Labor and civil society organizations have urged the government to expand the budget related to the social safety net included in the 2022 budget proposal.
About 10 organizations, including People's Solidarity for Participatory Democracy, the Korean Confederation of Trade Unions, and the Solidarity for Poverty, issued a joint statement on the 31st, saying, "The 2022 budget announced by the government is smaller than the total budget of 604.9 trillion won, which reflects this year's supplementary budget," and added, "Despite the prolonged COVID-19 crisis and the deepening social perception of risks such as inequality and poverty, the budget for strengthening the social safety net remains insufficient."
They stated, "We are disappointed with the government, which shows a policy stance completely opposite to other advanced countries that are implementing large-scale fiscal spending despite high levels of national debt," and argued, "The 2022 social safety net budget must be expanded to overcome the COVID-19 crisis and reduce inequality."
They also emphasized, "The government's policy direction needs to be bolder to strengthen the social safety net," and "In that regard, the government and the National Assembly should reconsider next year's budget from scratch and significantly expand it in the direction of strengthening the social safety net."
The government announced on the same day that the next year's budget was set at 604.4 trillion won, an 8.3% increase compared to this year's budget.
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