Koo Yoonchul: "Not Yet a Stagflation Situation... Supplementary Budget Needed to Prevent It"

Koo Yoon-chul, Deputy Prime Minister and Minister of Strategy and Finance, stated on April 7, "It does not appear that we are currently in a stagflation situation (economic stagnation amid high inflation)."

Koo Yoon-chul, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, is speaking at the Emergency Economic Headquarters Meeting and Economic Ministers Meeting held on April 3 at the Government Seoul Office in Jongno-gu, Seoul, regarding the supply, demand, and price checks of key items related to the Middle East war. 2026.4.3 Photo by Jo Yongjun

Deputy Prime Minister Koo made this comment in response to a question from Lee Jongbae, a member of the People Power Party, at the plenary session of the National Assembly's Special Committee on Budget and Accounts. Lee asked, "Do you believe that there will be no stagflation impact if the 26.2 trillion won supplementary budget is released?"

When Assemblyman Lee pointed out, "Even if it is not the case yet, there are concerns," Deputy Prime Minister Koo replied, "That is why I believe that such a supplementary budget, which can help the economy, is necessary to prevent stagflation."

He added, "We will strive for price stability through various policies, including the supplementary budget."

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