Gov't plans to inject total US$ 69 bil. for COVID-19 support packages
- 4 years ago
고용 안정•기업 안정화 지원 총 85조 원 투입...3차 추경 추진
Following the emergency economic council meeting at the Blue House, South Korea's finance minister vowed to inject nearly 69 billion U.S. dollars to stabilize the nation's industries and jobs... hit hard by the COVID-19 pandemic.
Parts of the funding will be covered by drawing up a third budget supplement which will be proposed by June.
Kim Mok-yeon reports.
Finance Minister Hong Nam-ki vowed to increase the size of the nation's COVID-19 support packages by injecting a total of 69 billion U.S. dollars for three specific purposes.
One, for employment stabilization efforts, two, for key basic industries and three, to support hardly hit companies.
The government plans to inject 8 billion dollars for employment stability, hoping to support some 2.7 million jobs.
A large portion of that will be drawn up from the third supplementary budget set to be proposed in June.
"Of the 8 billion package, some 650 million will be covered through reserve funds while a large portion of the remaining 7.5 billion will be covered from the third supplementary budget, which the government is working on."
The finance minister did not specify on the scale of the third extra budget but he said the size will be "significant".
He also said that the government plans to fund the budget by issuing deficit-financing bonds.
The government will also raise its current 81 billion dollar aid package for coronavirus-hit companies to 109 billion dollars to supply more liquidity into companies facing difficulty.
The finance ministry and other economy-related ministries plan to create an emergency economy headquarters and hold a regular meeting every Thursday to further develop policies on employment and trade as well as get ready of economic risks for the latter half of the year.
KIM Mok-yeon, Arirang News.
Following the emergency economic council meeting at the Blue House, South Korea's finance minister vowed to inject nearly 69 billion U.S. dollars to stabilize the nation's industries and jobs... hit hard by the COVID-19 pandemic.
Parts of the funding will be covered by drawing up a third budget supplement which will be proposed by June.
Kim Mok-yeon reports.
Finance Minister Hong Nam-ki vowed to increase the size of the nation's COVID-19 support packages by injecting a total of 69 billion U.S. dollars for three specific purposes.
One, for employment stabilization efforts, two, for key basic industries and three, to support hardly hit companies.
The government plans to inject 8 billion dollars for employment stability, hoping to support some 2.7 million jobs.
A large portion of that will be drawn up from the third supplementary budget set to be proposed in June.
"Of the 8 billion package, some 650 million will be covered through reserve funds while a large portion of the remaining 7.5 billion will be covered from the third supplementary budget, which the government is working on."
The finance minister did not specify on the scale of the third extra budget but he said the size will be "significant".
He also said that the government plans to fund the budget by issuing deficit-financing bonds.
The government will also raise its current 81 billion dollar aid package for coronavirus-hit companies to 109 billion dollars to supply more liquidity into companies facing difficulty.
The finance ministry and other economy-related ministries plan to create an emergency economy headquarters and hold a regular meeting every Thursday to further develop policies on employment and trade as well as get ready of economic risks for the latter half of the year.
KIM Mok-yeon, Arirang News.