Anchor: President Moon Jae-in presided over an annual national fiscal strategy meeting on Monday, where he called for aggressive, wartime fiscal policy amid the COVID-19 pandemic, while dismissing concerns about fiscal soundness.
Choi You Sun reports.
Report: At an annual meeting to draw up the country's fiscal strategies on Monday, President Moon Jae-in called for active fiscal expansion in coping with the fallout from the novel coronavirus pandemic.
Describing the current situation as "economic wartime," Moon stressed that the country can avoid more damage by pouring more water on the fire in the beginning.
In calling for the government's third extra budget plan, which exceeds the previous two in scale, the president urged the National Assembly to pass the related bill next month to guarantee its effectiveness.
Moon also mentioned his resolve for the Korean New Deal in the post-coronavirus era, vowing to pursue both digital and eco-friendly initiatives to lay the foundation for sustainable growth.
Addressing concerns over weakening fiscal soundness because of his expansionary policies, Moon reiterated the need to quickly overcome the crisis through fiscal injections and to recover fiscal health by raising the growth rate.
The president, however, pledged that the government will first tighten its belt by drastically reducing nonessential spending and carrying out major restructuring.
Choi You Sun, KBS World Radio News.