Up to 16 trillion won will be invested in the "30 trillion tax revenue funk"...a war of words in the National Audit Office

[Anchor]
The government has decided to invest up to 16 trillion won in extra funds, including the Foreign Exchange Equity Fund and the Housing and Urban Fund, to make up for the 30 trillion won in tax revenue shortfall this year.

In the parliamentary audit, the ruling and opposition parties engaged in a war of words over how to respond to the government's tax deficit.

Reporter Oh In-seok on the report.

[Reporter]
This year, up to 16 trillion won will be invested without issuing government bonds for a tax shortfall of 29.6 trillion won.

In addition to the Confucius Fund of 4 trillion won, the external evaluation fund of 4 to 6 trillion won, and the Housing and Urban Fund of 2 to 3 trillion won will be mobilized.

The government said it first utilized available resources within the government under the National Finance Act.

Due to the decrease in domestic taxes, the execution of 6.5 trillion won in local grant taxes and grants will be suspended, and the amount of disused without executing the finances is 7-9 trillion won.

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: For some local governments that have difficulty in fiscal management, we will actively seek supplementary measures, such as the government's acquisition of local bonds, in consultation with related ministries.]

In the parliamentary inspection of the government, the ruling and opposition parties showed conflicting positions on the use of the external evaluation fund.

[Lim Kwang-hyun / Minjoo Party member: The minister said during the re-estimation report in September that he would not consider using additional external funds, but I would like to point out that he changed his words in less than two months when he said he would use 4 trillion won to 6 trillion won in external funds.]

[Park Sung-hoon / National People's Power: As of the end of last year, the balance of external funds is about 274 trillion won. Is this not enough for the Korean government's ability to respond to the foreign exchange market?]

[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance] Because we have foreign exchange reserves. We think we have enough foreign exchange reserves.

Critics have criticized the injection of the housing city fund and argued that the use of the fund to minimize wrinkles in the people's livelihood economy is necessary.

[Jeong Il-young / Democratic Party of Korea: You said you're using extra funds from the Housing City Fund, but isn't the funding of this housing fund paid by the people? It's subscription savings and it's a national housing bond that people pay when they buy a house.]

[Lee Jong-wook / People's Power: The government should find as much available financial resources as possible, as its top priority is to minimize the impact on the people's livelihood and the real economy.]

Choi said he took it heavily for the weaker-than-expected real GDP growth in the third quarter.

Although the downside risks of the economy are growing, this year's growth rate itself is expected to be higher than the potential growth rate regardless of the growth rate in the fourth quarter.

This is YTN Oh In-seok.


Video Edit: Kim Hee-jung

Design: Lim's Star