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Moon Underlines Need to Execute Budget to Boost Economy

Written: 2019-05-28 16:17:09Updated: 2019-05-28 16:54:41

Moon Underlines Need to Execute Budget to Boost Economy

Photo : YONHAP News

President Moon Jae-in has emphasized the urgent need to pass a supplementary budget bill in parliament to revitalize the economy.

According to presidential spokeswoman Ko Min-jung, Moon made the remarks on Tuesday during a regular briefing from Economy and Finance Minister Hong Nam-ki. 

Hong briefed Moon on plans to promote investment which is key to reviving the economy.

The minister outlined corporate and public sector investment projects, including the creation of theme parks which is currently being discussed with related agencies.

Hong also pledged to prepare strategies to innovate two big industrial pillars; the service and manufacturing sectors.

He said his team will draft comprehensive ways to advance the service industry so it can generate more added value and create jobs 

The minister also promised to present strategies in the near future aimed at realizing a renaissance in the manufacturing sector, which has traditionally been the Korean economy's growth engine.

Moon ordered officials to strengthen communication with industry people and quickly come up with measures to improve the difficulties investors may face.    
  
The government has proposed an extra budget but the bill is pending in parliament amid partisan gridlock.

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