PresidentYoon Suk Yeol presided over the '2023 National Fiscal Strategy Meeting'

President Yoon Suk Yeol presided over the 2023 National Finance Strategy Meeting at the Blue House on June 28.The conference addressed the agenda of mid-term financial management for 23-27 and the direction of budgeting for 2014.

Since the inauguration of the Yoon’s government last year, this meeting has been a place to examine the financial management performance over the past year and discuss the role and tasks of finance to create national performance.

In the first session, the deputy prime minister for economic affairs announced the direction of budgeting and mid-term fiscal management for ‘24’, followed by discussions on fiscal innovation tasks such as private subsidies, low birth rates, balanced regional development spending restructuring and financial support methods. In the second session, participants discussed fiscal investment directions such as three major investment areas (defense, R&D, and welfare) and ODA to realize a global central country.

Despite the difficult financial conditions, the Yoon’s government will strengthen the nation's essential functions such as defense and law, expand future preparations and growth engines, and invest in welfare for the weak next year to firmly support national tasks, people's livelihoods, and economic vitality.

To improve budget efficiency, thegovernment will maintain a responsible and sustainable fiscal management stance, pursuing "let's spend it right where it's necessary" for future generations, not simply reducing spending.

The agendas discussed will be actively reflected in the '24 budget plan and the 23-27 national financial management plan.The plan will be submitted to the National Assembly in early September after consultation with related ministries.