Ruling Camp Vows to Use Expansionary Fiscal Policy to Increase Jobs

Write : 2018-08-20 09:19:24 Update : 2018-08-20 12:01:44

Ruling Camp Vows to Use Expansionary Fiscal Policy to Increase Jobs

The government, presidential office and the ruling Democratic Party(DP) have pledged to use all possible measures including an expansionary fiscal policy to deal with the nation's worsening employment conditions.  

The ruling camp on Sunday reached the agreement during an emergency meeting held at the National Assembly to discuss measures to cope with the dismal job situation.

DP policymaker Kim Tae-nyeon said that they agreed to ensure and speed up the execution of the supplementary budget and implement more expansionary fiscal policies next year. 

After the meeting, Finance Minister Kim Dong-yeon said that the government will examine the effect of economic policies implemented so far and consider modifying them if necessary, following consultations with related ministries. 

However, presidential chief of staff for policy Jang Ha-sung, expressed his support for the current policies, urging the public to trust the government and wait.

Jang said that when the government's income-led growth strategy, as well as policies for self-employed people, start taking effect, the economy will gain vitality and the job market will improve.

[Photo : KBS News]

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