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Gov't Reveals Measures to Mitigate Slump, Support Livelihoods

Written: 2023-01-04 14:16:08Updated: 2023-01-04 14:34:22

Gov't Reveals Measures to Mitigate Slump, Support Livelihoods

Photo : KBS News

Anchor: As the global economic crisis and domestic challenges continue, the government put forth a package of measures to actively mitigate the impact while offering support for the public’s livelihoods.
Choi You Sun reports.

Report: Finance minister Choo Kyung-ho convened an emergency meeting of economy-related ministers on Wednesday to announce livelihood stability measures amid inflation, recession concerns and a slowdown in the job market.

Sixty-five percent of the central government's budget will be spent during the first half of the year, while municipal governments will spend 60-point-five percent.

The government plans to hire 940-thousand people, around 90 percent of the annual quota, during the same period through direct employment in the public sector to support vulnerable groups.

The unit price of energy vouchers offered to vulnerable groups, including seniors and those with disabilities, will be raised by around five percent through April, while those for kerosene will be more than doubled.

Financial support for food, education, transportation and cultural expenses for low-income households will also expand.

Ahead of the Lunar New Year holiday later this month, the government will supply a record 208-thousand tons of 16 key items in high demand from its reserves through January 20 in a bid to bring down consumer prices.

Around 30 billion won will be spent to offer up to 60 percent in discounts on agricultural, livestock and fisheries commodities.

During the four-day holiday from January 21 through 24, highway tolls will not be collected and entry into state and publicly-run facilities will be free of charge.
Choi You Sun, KBS World Radio News.

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