Presidential office vows swift budget execution

By Yoo Cheong-mo
FUKUOKA, Japan, Dec. 13 (Yonhap) -- The office of South Korean President Lee
Myung-bak on Saturday welcomed the parliamentary approval of the government's
budget bill for next year, reiterating its determination to quickly execute
fiscal expenditures to overcome the economic crisis.

"The government will do its utmost to weather the unprecedented economic crisis
by efficiently utilizing the parliament-approved budget bill," presidential
spokesman Lee Dong-kwan said in a statement.
"Viewing the parliamentary approval as a public wish for swift economic recovery,
the government will make an all-out effort to create more job opportunities,
extend greater support to small and medium-sized companies and take better care
of the people's livelihoods," said the statement.
Earlier on Saturday, the South Korean National Assembly approved a 284.5 trillion
won (US$206.8 billion) budget bill for 2009 in a plenary session boycotted by the
main opposition Democratic Party. The party has called the Lee government's
infrastructure projects "excessive" and said its tax cut plan will only benefit
the nation's wealthy.
The budget bill voting was attended only by the ruling Grand National Party,
which controls two-thirds of the parliamentary seats, and two minority parties.
President Lee was visiting Japan on Saturday to attend a tripartite summit
meeting with Japanese Prime Minister Taro Aso and Chinese Premier Wen Jiabao. Lee
will return home late Saturday night.
According to the presidential spokesman, President Lee will preside over a series
of economy-related Cabinet and expanded policy meetings between Sunday and
Thursday to discuss follow-up measures to the parliamentary budget's passage.
On Sunday, Lee will meet with a group of 15 economy-related ministers for
intensive discussions on job creation and economic revitalization. On Tuesday,
the president will again meet with the economy ministers and his economic policy
advisers to address similar agenda items.
Lee is also set to receive the 2009 macroeconomic policy briefing from the
Ministry of Strategy and Finance and other relevant ministries on Thursday, about
one month earlier than in the previous years, in line with the president's push
to implement economic stimulus measures as soon as possible.
The Ministry of Strategy and Finance has already announced a plan to use 60
percent of its annual fiscal spending in the first half of next year as part of
its effort to swiftly revitalize the slumping real economy.
ycm@yna.co.kr
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