The Korea Times
President Lee Jae Myung on Tuesday instructed officials to pursue a proactive fiscal policy in the second half of the year and beyond to help improve people's livelihoods. Lee delivered the instruction at a Cabinet meeting, insisting that now is the time to nurture the nation's potential through investment and that greater investment will yield bigger returns. "(The government) should focus on paving the way for a great leap forward in the national economy through fiscal (policy)," the president said, adding that the economic growth plan for the second half and the drafting of next year's budget should be based on such a principle. Citing research results, Lee said that "proactive fiscal management" helps improve people's livelihoods, while bold fiscal spending helps revitalize the broader economy. The president said that South Korea's national debt structure remains more sound than that of "any other country," adding that its "real debt ratio," which reflects the government's actual indebtedness, stands at around 10 percent of the gross domestic product. "I don't mean to encourage lavish
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