Bank of Korea(BOK) Gov. Rhee Chang-yong has voiced support for targeted aid over universal support ahead of the Lee administration’s supplementary budget proposal.

Speaking at a press briefing on inflation management Wednesday, Rhee said that while he has not yet reviewed the government’s proposed budget, he believes targeted assistance is fiscally more efficient, particularly when supporting small businesses and self-employed businesspeople.

His comments come as the Lee Jae Myung administration prepares to present a supplementary budget bill at a Cabinet meeting Thursday, which is expected to include universal aid as well as additional support for low-income and vulnerable groups.

Still, Rhee said the budget is likely to boost economic growth without significantly impacting inflation.

Meanwhile, BOK Deputy Gov. Kim Woong estimated that a budget of 20 trillion won, or about 14-point-59 billion U.S. dollars, will raise next year’s inflation rate by just zero-point-one percentage point, adding that its full impact on growth will depend on how the funds are allocated, with further analysis to be provided in July.