The government's fiscal expenditure increased by 9.5% in total expenditure from 2019, increased by 100 trillion won for two years with a continuous expansion of 9.1% in 2020 and 11.9% in 2021, a 20% increase from 500 trillion won in 2020 to 600 trillion won in 2022.
The economic growth rate rose 0.2% from –1% of GDP last year to 3.6%, with the government 3.2% this year, the Bank of Korea 3%, and the IMF added an additional 20 trillion won.
This year, the government's total expenditure increase is 11.9%, 3%p higher than the initial 8.9% increase as an additional 20 trillion won was already added to last year's total expenditure (512 trillion won). It is a yearly financial increase of 100 trillion won.
The International Monetary Fund (IMF)'s announcement of an increase in economic growth rate was also raised to 3.6% after an additional 20 trillion won was actually added.
Initially, the growth rate forecast for this year was about OECD (3.3%), the Bank of Korea (3%), the government (3.2%), and the IMF (3.1%).
President Moon Jae-in's Cabinet meeting presided over by President Moon Jae-in confirmed a 6.0% increase in fiscal expenditures in the national fiscal management plan until 2024, and the government began to mention the “increased tax” on the result of a surge of 9.0% or more for the third consecutive year.
In an explanation of the reporter group's head of the budget, Do-geol Ando-geol, “The issue of tax increases is a very sensitive issue and many aspects need to be considered. “I think these issues are issues that should be discussed while forming a consensus across the country.” On the 26th, he announced that the focus of fiscal future will shift from overcoming the economic crisis to investments that lead the transition to a leading economy. .
"The economy is recovering rapidly and strongly," said President Moon at the State Council meeting. "Several international organizations are raising Korea's economic growth rate, and export, investment, and consumer sentiment indexes are also recovering to levels before the coronavirus." Due to the expansion of finance, the number of defaulters from more than 930,000 at the end of 2017 decreased to 800,000 last month. Achievements achieved in the coronavirus situation," he said. This was very big. Thank you to the financial world."
The resolution of the State Council is that the national debt will increase to 965 trillion won this year, 48.2% of GDP, and the administrative fiscal deficit of 12.64 trillion won, and next year's national debt will increase to 52.3% of GDP of 1091 trillion won, which is an annual 13% expansion.
The unemployment rate, where Corona finance is concentrated, is the highest among OECD countries, with the International Labor Organization (ILO) guidelines compiled in January at 5.4%, up 0.9% from the previous month.
Japan's unemployment rate was 2.9% in February, the same as the previous month, with 2.30 million people, the Ministry of Internal Affairs and Communications announced on the 30th.
In Japan, the total number of employed in Corona was 66.97 million in February, an increase of 30,000 from January, involuntary turnover increased by 30,000 and voluntary turnover decreased by 30,000.
The unemployment rate in August, when the corona was growing, was 0.3 percentage points in the gap between Korea (3.3%) and Japan (3.0%). The width has increased more than eight times.