Acting President and Prime Minister Han Duck-soo says he hopes the financial authorities will swiftly complete the budget allocations so the execution of next year’s budget can start promptly on January 1.
Chairing Tuesday’s Cabinet meeting, Han said the government will focus on achieving an economic recovery and addressing issues that directly affect people’s needs and interests.
He instructed the ministers to fully mobilize resources such as national finances, public institutions and private investments in the first half of the year to revitalize the country’s economy.
The finance ministry later said that the Cabinet approved a plan to allocate 75 percent of next year's budget in the first half.
The acting president said he hopes special attention will be given to the swift execution of the budget to ease the burden on low-income households, protect vulnerable groups, support small businesses and foster advanced industries.
Han also called for consistent, effective policy support from the government to help companies facing uncertainty due to the current economic state.