Vice Minister Lim: "Rigorous Expenditure Efficiency Measures for Next Year's Budget"

Lim Gi Geun, Vice Minister of Strategy and Finance, is delivering opening remarks at the inter-ministerial meeting on expenditure restructuring held at the Government Seoul Office in Jongno-gu, Seoul, on the morning of the 16th. (Source: Ministry of Strategy and Finance)

Lim Gi Geun, the Second Vice Minister of Strategy and Finance, stated on the 16th, "We will pursue rigorous expenditure efficiency measures in the process of drafting next year's budget proposal."

At the inter-ministerial meeting on expenditure efficiency held at the Government Seoul Office that day, Vice Minister Lim said, "We will thoroughly review habitual and wasteful spending, while ensuring that sufficient resources are allocated to essential areas such as the new administration's national policy tasks."

He particularly emphasized, "We will boldly abolish projects with poor execution or insufficient outcomes, and we will leave no exceptions in reviewing even small, less noticeable wasteful expenditures scattered throughout various sectors."

The meeting discussed the basic direction and implementation plans for expenditure restructuring in next year's budget proposal. Sixteen ministries participated, including the Ministry of Trade, Industry and Energy; Ministry of Employment and Labor; Ministry of Land, Infrastructure and Transport; Ministry of Environment; Ministry of the Interior and Safety; and the Financial Services Commission.

The government is currently collecting public opinions on expenditure restructuring through the Citizen Participation Budget platform. Vice Minister Lim urged, "Each ministry should actively review these suggestions," and added, "We must make every effort to enhance fiscal efficiency by thoroughly reviewing mandatory expenditures for mid- to long-term fiscal needs and pursuing institutional improvements where necessary."

The government plans to allocate the resources secured through expenditure restructuring to the implementation of new government policy tasks by each ministry and to enhancing growth potential. The budget proposal for next year will be submitted to the National Assembly in early September after consultations among the relevant ministries.