PM Chung Sye-kyun delivers policy speech for passage of largest COVID-19 extra-budget
Arirang News
2020-06-29
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정세균, 첫 시정 연설 "3차 추경 원안대로 의결 부탁"...국회, 17개 상임위원장 선출 완료
As part of the government's continuing efforts to overcome and prepare for further economic damage from COVID-19, South Korean Prime Minister Chung Sye-kyun has urged the National Assembly to swiftly pass the government's largest-ever third supplementary budget proposal.
Our political correspondent Kim Mok-yeon reports.
In his first budget speech to the 21st National Assembly Monday, the Prime Minister said the budget, worth around 30 billion U.S. dollars, is crucial to dealing with existing difficulties as well as to preparing for people to return to their daily routines when the pandemic is over.
"With small cluster infections still occurring across the country, it's too soon to relax. We're dealing with the situation through our successful quarantine efforts, but we need to do more to get back to our daily lives."
Chung said the budget is needed to stabilize the job market and to support companies in the aviation and automobile industries hit hard by a reduction in exports.
The budget is essential, he said, to developing vaccines and creating an effective disaster management system to prepare for future recurrences.
The Prime Minister also addressed concerns about the nation's fiscal health.
"We have no choice but to actively inject funds in this economic emergency. Other major countries are also investing actively even though they have higher national debts."
Chung said that these funds are necessary to build a virtuous cycle of "overcoming crisis - bringing growth - and fiscal recovery," and with this the government will work to achieve a V-shaped recovery.
He vowed to swiftly implement the budget once passed by the parliament.
Meanwhile, the structure of the new parliament is now almost in place the chairs of 17 of its 18 committees have been elected all of them going to the ruling Democratic Party.
The main opposition United Future Party refused to run candidates, boycotting what they call the ruling party's "unilateral decision" to take the chair of the judiciary committee, which has the final say in passing bills.
With their structure in place, the committees have started reviewing pending bills, including the third supplmentary budget.
National Assembly speaker Park Byeong-seug vowed to pass the supplementary budget by Friday, the last day of the June session.
Kim Mok-yeon, Arirang News.
As part of the government's continuing efforts to overcome and prepare for further economic damage from COVID-19, South Korean Prime Minister Chung Sye-kyun has urged the National Assembly to swiftly pass the government's largest-ever third supplementary budget proposal.
Our political correspondent Kim Mok-yeon reports.
In his first budget speech to the 21st National Assembly Monday, the Prime Minister said the budget, worth around 30 billion U.S. dollars, is crucial to dealing with existing difficulties as well as to preparing for people to return to their daily routines when the pandemic is over.
"With small cluster infections still occurring across the country, it's too soon to relax. We're dealing with the situation through our successful quarantine efforts, but we need to do more to get back to our daily lives."
Chung said the budget is needed to stabilize the job market and to support companies in the aviation and automobile industries hit hard by a reduction in exports.
The budget is essential, he said, to developing vaccines and creating an effective disaster management system to prepare for future recurrences.
The Prime Minister also addressed concerns about the nation's fiscal health.
"We have no choice but to actively inject funds in this economic emergency. Other major countries are also investing actively even though they have higher national debts."
Chung said that these funds are necessary to build a virtuous cycle of "overcoming crisis - bringing growth - and fiscal recovery," and with this the government will work to achieve a V-shaped recovery.
He vowed to swiftly implement the budget once passed by the parliament.
Meanwhile, the structure of the new parliament is now almost in place the chairs of 17 of its 18 committees have been elected all of them going to the ruling Democratic Party.
The main opposition United Future Party refused to run candidates, boycotting what they call the ruling party's "unilateral decision" to take the chair of the judiciary committee, which has the final say in passing bills.
With their structure in place, the committees have started reviewing pending bills, including the third supplmentary budget.
National Assembly speaker Park Byeong-seug vowed to pass the supplementary budget by Friday, the last day of the June session.
Kim Mok-yeon, Arirang News.
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