Lim Gwang-hyun: "Difficult to Agree With Criticism That National Debt Isn't Being Paid Down ... More Stable Than Ever"

Chief of Staff Lim Gwang-hyun chairs meeting of senior secretaries and aides on Nov. 2
"National debt managed more stably than in any other advanced economy"

Chief of Staff Lim Gwang-hyun said on Nov. 2, "It is difficult to agree with criticism from some quarters that the government is not paying down the national debt," adding, "The national debt is being managed more stably than ever and more stably than that of any other advanced economy."

Presidential Office Deputy Spokesperson Ahn Gwi-ryeong said in a written briefing on Nov. 2 that Lim made the remarks about next year's budget proposal at a meeting of senior secretaries and aides.

Yonhap News Agency

Lim explained, "Next year's government budget proposal is a people's budget for greater growth, a warmer livelihood, and a stronger Republic of Korea. It is a growth budget to realize an irreplaceable Republic of Korea and a livelihood budget that shares the benefits of growth."

He added, "The government has allocated a record 820.9 trillion won to foster growth for everyone, in which all citizens play a leading role, rather than growth that concentrates resources in specific places and benefits only a few."

Lim also stressed, "Although growth of around 3% is forecast for this year, the shadows of inequality and polarization remain. The government has prepared not only three major megaprojects and seven SEED initiatives, but also three major livelihood projects."

Lim also urged, "Please actively consider better alternatives during the National Assembly's review of the budget proposal. To ensure that the proposal is passed on time, the senior secretaries' offices at the Presidential Office and the relevant government ministries should work closely together and make every effort to explain and respond."

This content was produced with the assistance of AI translation services.