Finance Ministry Reflects Moon Jae-in Gov't Policy Aims in Budget Preparation Guidelines

Write : 2017-05-19 15:05:56 Update : 2017-05-19 15:46:01

Finance Ministry Reflects Moon Jae-in Gov't Policy Aims in Budget Preparation Guidelines

The Finance Ministry has devised additional instructions for preparing next year’s budget to reflect key policy tasks of the Moon Jae-in government.
 
The ministry said on Friday that it informed government agencies on the additional guidelines.
 
Each government agency must submit by the end of this month budget requests that are in accordance with the additional instructions which call on agencies to reflect the new government’s policy tasks as much as possible. Among such tasks are creating jobs, achieving income-led growth, tackling the nation’s low birthrate and slashing fine dust levels.
 
Given that a significant amount of budget is likely to be needed to fulfill Moon’s campaign pledges, each government agency must slash its discretionary spending by ten percent and devise ways to reduce mandatory spending.
 
Earlier in March, the Finance Ministry distributed to government agencies instructions on next year’s budget proposal which is set to reach 420 trillion won.
 
However, with the Moon Jae-in government launching last Wednesday, the ministry came up with additional instructions to reflect Moon’s policy aims and to support necessary budget via reorganizing spending.

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