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韩国拟以财政扩张提振内需
Jing Ji Ri Bao· 2025-06-18 20:15
Group 1 - The new South Korean government is prioritizing economic recovery and stability, focusing on urgent economic agendas such as supplementary budgets, economic policy direction, tax reforms, and next year's government budget [1][2] - The government plans to release an "economic policy direction" document earlier than usual, which will outline its economic policy philosophy, implementation paths, and forecasts for key economic indicators [1][2] - The first measure of the new government is a supplementary budget aimed at stimulating the economy, addressing domestic consumption issues, weak exports, and global inflation pressures [2][3] Group 2 - The supplementary budget is expected to be around 30 trillion KRW, significantly higher than the initial budget, and will likely focus on direct cash assistance to citizens to boost domestic consumption [3][4] - Concerns have been raised regarding the sustainability and effectiveness of cash stimulus measures, especially given the rising household debt levels in South Korea [3][4] - The coordination between fiscal and monetary policies may face challenges, as the central bank has expressed reservations about large-scale cash distribution and prefers targeted support for struggling groups [3][4] Group 3 - There are risks associated with debt expansion due to the financing of the supplementary budget through deficit bonds, which could raise government debt levels and attract scrutiny from credit rating agencies [4][5] - The potential mismatch between fiscal expansion and monetary policy could lead to ineffective policy outcomes, as the central bank may delay interest rate cuts due to inflation or financial stability concerns [4][5] - The effectiveness of the government's expansionary fiscal policy in overcoming economic challenges remains to be seen, with a focus on achieving policy coordination, efficiency, and sustainability [5]