The Ministry of Economy and Finance announced that it has exceeded its fiscal execution goals for both the main budget and the supplementary budget in the first half of this year.
On July 8, Deputy Minister Lim Gi-geun chaired the 13th joint meeting on fiscal execution at the government complex in Sejong, where he reviewed the rapid execution of the main budget and supplementary budget for the first half of the year.
As of June 30, the rapid execution performance in the public sector (including finance, public institutions, and private investment) was recorded at 416.6 trillion won, achieving an execution rate of 60.2%.
This figure surpasses the first half execution target of 395.8 trillion won (60.2%) by 20.8 trillion won. Key projects also exceeded their targets, with 24.9 trillion won (execution rate of 72.3%) executed against a goal of 24.1 trillion won.
In the area of livelihood and economy, support for local love gift certificates amounted to 948.1 billion won, and small business management stabilization vouchers reached 579 billion won, with execution rates for small business support and high inflation response projects exceeding 80%.
The execution of the supplementary budget also exceeded its targets. Out of the 10.5 trillion won designated for rapid execution, 9.2 trillion won was executed, exceeding the first half target of 9 trillion won by 200 billion won. Projects aimed at alleviating the burden of high oil prices executed 5.1897 trillion won (execution rate of 97.2%), livelihood stabilization projects executed 1.6706 trillion won (67.8%), and projects to minimize industrial damage and stabilize supply chains executed 2.3260 trillion won (86.0%). In total, 87.4% of the entire management target was executed within 81 days after the supplementary budget was finalized on April 10.
Deputy Minister Lim stated, "This first half was a critical time when timely fiscal input was more necessary than ever due to ongoing high oil prices from the Middle East conflict, inflationary pressures, and employment slowdowns, particularly affecting vulnerable groups."
He added, "In the second half, we must ensure that execution goes beyond mere fund disbursement to be felt by the public and businesses, and I urge everyone to manage the actual execution situation until the end."
On July 8, Deputy Minister Lim Gi-geun chaired the 13th joint meeting on fiscal execution at the government complex in Sejong, where he reviewed the rapid execution of the main budget and supplementary budget for the first half of the year.
As of June 30, the rapid execution performance in the public sector (including finance, public institutions, and private investment) was recorded at 416.6 trillion won, achieving an execution rate of 60.2%.
This figure surpasses the first half execution target of 395.8 trillion won (60.2%) by 20.8 trillion won. Key projects also exceeded their targets, with 24.9 trillion won (execution rate of 72.3%) executed against a goal of 24.1 trillion won.
In the area of livelihood and economy, support for local love gift certificates amounted to 948.1 billion won, and small business management stabilization vouchers reached 579 billion won, with execution rates for small business support and high inflation response projects exceeding 80%.
The execution of the supplementary budget also exceeded its targets. Out of the 10.5 trillion won designated for rapid execution, 9.2 trillion won was executed, exceeding the first half target of 9 trillion won by 200 billion won. Projects aimed at alleviating the burden of high oil prices executed 5.1897 trillion won (execution rate of 97.2%), livelihood stabilization projects executed 1.6706 trillion won (67.8%), and projects to minimize industrial damage and stabilize supply chains executed 2.3260 trillion won (86.0%). In total, 87.4% of the entire management target was executed within 81 days after the supplementary budget was finalized on April 10.
Deputy Minister Lim stated, "This first half was a critical time when timely fiscal input was more necessary than ever due to ongoing high oil prices from the Middle East conflict, inflationary pressures, and employment slowdowns, particularly affecting vulnerable groups."
He added, "In the second half, we must ensure that execution goes beyond mere fund disbursement to be felt by the public and businesses, and I urge everyone to manage the actual execution situation until the end."
* This article has been translated by AI.
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