The presidential office has hinted at the possibility of drawing up a supplementary budget to carry out major policy tasks for the second half of President Yoon Suk Yeol’s term in office.
A senior official at the top office said Thursday that the government is not ruling out an active role for fiscal spending, including the possibility of a supplementary budget.
But the official added that the government has no plans to draw up an extra budget early next year.
Another official at the presidential office said the government will be busy executing the regular budget early next year.
The official said the government first needs to devise measures to address polarization, reflect them in next year’s budget and execute it, before considering an extra budget.
Earlier in the day, President Yoon vowed to open a “new era of the middle class,” resolving polarization and revitalizing the economy in the second half of his term, raising speculation that the government may shift its emphasis from fiscal soundness to active fiscal spending.