Finance Minister Yoo Il-ho has stressed the need to promptly execute a supplementary budget, saying the extra budget would not have much significance if its implementation is delayed.
 
Yoo, who concurrently serves as deputy prime minister, made the call on Friday during a meeting between government officials and ruling party lawmakers. He said the government will submit to the National Assembly a supplementary budget bill at the earliest possible date within this month.
 
On the latest economic conditions, Yoo said the nation’s employment situation is worsening, mainly in the manufacturing sector, amid the nation’s restructuring efforts and Britain’s decision to leave the European Union.
 
In particular, Yoo said unemployment is becoming a serious problem in areas affected by the restructuring of shipbuilding industries being carried out under their self-rescue plans.
 
He stressed that a further loss of jobs must be blocked, citing that jobs are directly related to people’s livelihoods.
 
The minister called on parliament to swiftly pass the supplementary budget bill, emphasizing that the key issues at hand are restructuring and a supplementary budget centered on creating jobs.