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Gov't to curb spending for fiscal soundness


Gov t to curb spending for fiscal soundness
Posted : 2021-05-24 16:42
By Lee Kyung-min
The government said Monday that it has begun discussing ways to manage fast-growing debt on a steep rise, due to a spike in mandatory and fiscal spending brought on by the COVID-19 pandemic.
The announcement signals that the record-high growth of debt due to a year of expansionary policies needs to slow down, an objective the government says will be achieved by the implementation of a newly outlined fiscal discipline by 2025.
An effort will follow to reduce the one-off increase in expenditures granted to state-run projects.
Government spending will prioritize ways to bolster exports and corporate investments, two growth drivers underpinning the country s economy. A balanced recovery is needed that includes low-income earners who lost jobs during the past year. ....

Soult Ukpyolsi , South Korea , Ministry Of Economy , Seoul National University , National University , Kim So Young , தெற்கு கொரியா , அமைச்சகம் ஆஃப் பொருளாதாரம் , சியோல் தேசிய பல்கலைக்கழகம் , தேசிய பல்கலைக்கழகம் , கிம் அதனால் இளம் ,