Deputy Prime Minister and Minister of Economy and Finance Ku Yoon-chul said on the 25th, 'If we only maintain fiscal soundness, there are aspects in which fiscal soundness may deteriorate further in the medium to long term.' This is interpreted as emphasizing the government's commitment to an expansionary fiscal policy.
On this day, Deputy Prime Minister Ku noted during a session of the Special Committee on Budget & Accounts at the National Assembly, 'Rather, if we achieve results through bold investments, it will bring about a virtuous cycle of economic growth, which can secure fiscal soundness in the medium to long term.'
He emphasized, 'When reviving the economy, we should increase proactive expenditures when necessary,' adding, 'In fiscal management, I will boldly push for rigorous restructuring in the low-performing institutional sectors.'
Deputy Prime Minister Ku stated, 'I will enhance the efficiency of fiscal management by concentrating investments in high-performing institutional sectors,' and he added, 'Efforts will also be made to expand the revenue base through rational tax reforms and adjustments to tax exemptions.'
He continued, 'Through efficient fiscal investment centered on future core strategic industries, we will accelerate the transition from a catching-up economy to a leading economy,' stating, 'As economic growth continues, the revenue base will expand, and a virtuous cycle structure ensuring fiscal sustainability will be realized.'
Deputy Prime Minister Ku remarked on the current economy, 'Domestic and external uncertainties remain high,' but added, 'Fortunately, backed by the recent improvement in consumer sentiment, there is a sign of a turnaround from the sluggish trend that has persisted since the second quarter of last year.' He further noted, 'To sustain this trend, we will swiftly execute supplementary budgets and actively promote measures to stimulate the economy.'