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[ANALYSIS] Talk of another round of disaster relief payouts sparks concerns
Posted : 2021-06-03 15:39
Updated : 2021-06-03 18:50
Finance Minister Hong Nam-ki speaks after the National Assembly passes a supplementary budget bill for a coronavirus relief fund in Seoul, March 25. Yonhap p
By Lee Min-hyung
A debate is heating up among politicians on whether to provide another round of disaster relief payouts to all households in the country, amid lingering concerns that the move will end up worsening the soaring national debt burden.
The government and the ruling party have brought up the idea of offering a fifth round of COVID-19 relief payouts, citing the need to revitalize the sagging real economy.
Salaried workers frustrated due to inflation
Posted : 2021-06-03 16:36
By Lee Kyung-min
Salaried workers are increasingly feeling the pinch of inflation, as clearly indicated by a surge in prices of goods and services as well as interest rates.
The economic term is not only for use among academics, economists and central bankers, since many people are increasingly finding the price of everything to be on the rise ― except for their monthly paycheck.
This common frustration is expected to intensify, because the cost of living will spike further amid the collective move by fiscal and monetary authorities in drawing down the expansionary policies put in place to weather the COVID-19 pandemic. This will translate into higher tax and heavier borrowing costs.