Photo : YONHAP News
The presidential office says a supplementary budget may be considered to counter economic shocks brought on by the Middle East crisis.
During a briefing held after an emergency meeting on the Middle East situation Monday, the top office’s director of national policy, Kim Yong-beom, made the statement when asked if an extra budget will be considered if the U.S.-led war against Iran becomes protracted.
Kim said it is top priority to help the nation’s economy ride out possible shocks from the Middle East crisis, adding that if additional funding is required, an extra budget must be seriously considered.
Kim said various policies are being considered to address possible shocks, adding that this year’s economic outlooks, which were relatively favorable earlier this year, have drastically changed due to the crisis.
He said the matter could be resolved within days or drag on for a long time, adding that if the conflict persists, some industries will face direct blows and fiscal burdens will increase.