"Mobilizing All Available Public Sector Resources to Strengthen the Economy"
"Policy Announcement on the 31st Regarding the 2025 Economic Policy Direction"
Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, said on the 27th, "Under a more serious awareness of the situation than ever before, we will make domestic demand recovery and livelihood stabilization the top priority of next year's economic policy direction and devote all government capabilities to it."
At the 'Private-Public-Political Council for Revitalizing Domestic Economy' held at the National Assembly on the same day, Deputy Prime Minister Choi said, "Recently, our economy has seen slow domestic demand recovery, and concerns have grown that economic sentiment may deteriorate due to expanding internal and external uncertainties, worsening livelihood difficulties." He added, "Next year, there is also a risk of economic downturn as exports, which have driven growth so far, are expected to slow down."
Deputy Prime Minister Choi stated, "We will reinforce the economy by mobilizing all available public sector resources, including government budgets, public institution investments, and policy finance." He emphasized, "We will swiftly execute the budget with unprecedented speed and scale, including the largest-ever pre-allocation before the start of the fiscal year, relaxation of execution regulations, and shortening of procedures. Through this, next year's budget will be promptly delivered to those in need from the first day of the new year."
He continued, "We will improve income conditions for small business owners, ordinary citizens, and local communities through activation plans for domestic sectors such as consumption, tourism, and construction." He added, "Along with reducing essential living costs such as food and housing, we will provide tailored support for vulnerable groups and especially devise additional support measures for small business owners."
He explained, "We will concretize these policy tasks and announce them through the 2025 Economic Policy Direction on the 31st. The valuable opinions received today will be reflected as much as possible not only in this economic policy direction but also in future policy-making processes."
Attending the Private-Public-Political Council on the day were Kwon Seong-dong, Acting Representative and Floor Leader of the People Power Party, Kim Sang-hoon, Chairman of the Policy Committee of the People Power Party, Yoo In-chon, Minister of Culture, Sports and Tourism, and Song Chi-young, President of the Federation of Small Businesses.
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