Increase holidays and expedite enforcement of Article 358 'total mobilization of means'...Will it be possible to boost domestic demand?

[Anchor]
The government said it will strengthen the domestic economy, which is in a slump due to the revitalization of domestic tourism and early implementation of policies and finances, including the designation of temporary holidays on the 27th, along with measures to stabilize prices for the Lunar New Year.

The means of using it is to mobilize all, but it is questionable whether it will be effective for internal and external uncertainties.

Lee Seung-eun reports.

[Reporter]
To ease the frozen consumer sentiment, the government will mobilize all the cards available for this Lunar New Year's Day.

We also reviewed the designation of a temporary holiday on January 27 and announced plans for free entry to transportation and major tourist destinations along with large-scale discount events.

[Go Hye-jin / Seongnam-si, Gyeonggi-do: I have another day, so I think I'll go out to Seoul with my friend.]

[Jung Kyu-tae / Gongdeok-dong, Seoul: Will it be okay if you work on Monday anyway?] [Let's hang out for another day anyway]

Increasing holidays increases social costs, such as corporate production losses and rising holiday wages, but it seems to be due to the judgment that reinforcing the deteriorated self-employed economy is a priority.

Two years ago, the Hyundai Economic Research Institute analyzed the effects of a day of alternative holidays, with consumption expenditure increasing by 2.4 trillion won, resulting in production inducement of 4.8 trillion won and employment inducement of 40,000 people.

[Shin Ji-young / Researcher at Hyundai Economic Research Institute: Given that this temporary holiday was designated due to the imminent period of time, it is a little difficult to expect a big economic stimulus or consumption boost, but I think it can be of any help to the self-employed economy]

In addition, the government plans to quickly execute around 65% of the projects that the central government, local governments, and local education offices can control the timing at their discretion in the first half of the year.

In terms of the amount, it is worth 358 trillion won.

[Choi Sang-mok / Acting President: In particular, projects related to public welfare and economic revitalization worth 85 trillion won will be carried out at 70% in the first half and 40% in the first quarter.]

There are voices concerned about the fiscal effect cliff in the second half of the year, but the government is in a position to look at the situation and consider further reinforcing the economy in the first quarter, and is drawing a line in the supplementary budget.This seems to be because finances at the time of

interest rate cuts could be out of sync, stimulating prices and political uncertainty is holding back.

I'm YTN's Lee Seung Eun.

Photographer Lee Seung-joon Jeong Jeong-yoon in video editingDesign Ji Kyung-yoon