Nominee for budget planning minister pledges bold measures to support livelihoods

The nominee for the new minister of planning and budget said Monday the country's economy is facing a perfect storm, pledging bold budgetary measures to support people's livelihoods that she said will include "bold" government investments. Lee Hye-hoon made the remarks while heading to her office to prepare for her parliamentary confirmation hearing. "Our economy is confronting a structural and complex crisis that is eroding growth potential, and in the short term we are in a perfect storm," Lee said. Such structural challenges include the demographic crisis, climate change, widening inequality, rapid transformation in industry and technology, and regional population decline, she noted. "(The government) will eliminate unnecessary spending while making bold investments to support people's livelihoods and promote economic growth," Lee said, pointing to high prices and a strong U.S. dollar as major factors weighing on households. She further outlined a vision to make the ministry that turns taxpayers' money into investments for the future and, in turn, enriches people's lives. The former thrWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times