Ruling party urges gov't to roll out 'significant' extra budget

By 임정요

Published : June 21, 2016 - 10:20

South Korea's ruling Saenuri Party on Tuesday urged the government to provide a "significant" amount of extra budget to bolster the country's economy that is struggling with a prolonged slump.

"The country is facing challenges in the job market due to youth unemployment and corporate restructuring issues," the party said during its special meeting arranged to find solutions to the country's employment issues.

Ministry of Strategy and Finance in Sejong City (Yonhap)

"As the central bank is rolling out active measures to cope with challenges through credit-currency policies, it is now time for the government to come up with fiscal plans," the party added.

An official from South Korea's Ministry of Strategy and Finance, who also attended the meeting, did not respond directly to the request, adding that the government also finds "various necessities" for allocating a supplementary budget, but there are no specific plans being examined at the moment. (Yonhap)