Moon Administration’s Increased Welfare Spending Leading to Increasing Debt
This should not come as a surprise to anyone:
If the government pushes ahead with its expanded welfare spending plans, Korea’s fiscal debt will rise W360 trillion above the government’s original target by 2028 (US$1=W1,181).
According to an estimate by the National Assembly Budget Office on Thursday, Korea’s fiscal debt will reach W1,491 trillion by 2028, while the government debt ratio will reach 56.7 percent of GDP.
Just last year, the office estimated Korea’s fiscal debt at W1,130 trillion by 2028 or 48 percent of GDP. But within less than a year, the projection has risen a whopping 31.9 percent and the government debt ratio 8.7 percentage points. (……..)
Cho Dong-geun at Myongji University said, “Welfare policies aimed at winning votes are casting a long shadow over the future of Korea when the economy is already losing steam. The government is committing a serious offense against future generations.”
Chosun Ilbo
You can read more at the link.
Chosun Ilbo and people that criticize current administration are going full retard, it is all about votes and not making live easier for people to have children, either way you will have to go to debt or the nation will collapse.
57% in 2028? That small compared to other giants and tigers, America has over 100% and Japan is what over 200 or even 300%? lol
The number of business that have been forced out of business due to commie moon’s wayward economic polcies is massive. Come to korea and see for yourself. Would be no need for welfare if Commie moon didnt ruin the economy.
Kill free enterprise, destroy the ability to be self-reliant, make up for it with a welfare state, create populations of the genetationally dependent, increase state power even in a “democracy”.
There must be a playbook for that somewhere.
It must have been translated into Korean a few years ago.
“57% in 2028? That small compared to other giants and tigers, America has over 100% and Japan is what over 200 or even 300%? lol”
So if Little Billy sucks two or three hundred dícks but you only suck 57 dícks, are you less gay?
CH, the croatroll feels completely at ease pushing the demise of South Korea because it won’t affect him.