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Moon Urges Boosting Consumption for Economic Rebound

Written: 2020-10-19 15:52:13Updated: 2020-10-19 16:15:07

Moon Urges Boosting Consumption for Economic Rebound

Photo : YONHAP News

President Moon Jae-in said Monday that now is the golden time for an economic rebound and called for government-wide efforts to revitalize the economy.

In his weekly meeting with senior aides, Moon said difficulties in the job market can be untangled when the economy is revived.

He said it's regrettable the COVID-19 resurgence in August threw cold water on recovering domestic demand which restricted an economic rebound. But he said the country now needs to shake off that disappointment.

President Moon especially requested the immediate implementation of policy measures that were put off until now due to the virus quarantine. He called for the resumed distribution of coupons and various other projects to boost public consumption with special attention given to the arts, culture and tourism sectors, which were hit hard by the pandemic.

Regarding employment, Moon said the resurgence put a dent in new hires and promised all-out government efforts to swiftly overcome the impact on the job market.

He also urged thorough preparations in the execution of a project to create over one million public sector jobs next year without a hitch. Moon said the government must also expedite support for private sector investment and regulatory reforms.

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