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If Korea is swung once more, it could face the financial crisis again.”
In a phone interview with E-Daily on the 10th, financial expert Hong Woo-hyung, a professor of economics at Hansung University, criticized the recent passport claiming the’national fiscal margin’ as the basis for the national disaster subsidy, saying, “It’s ridiculous.” He said, “In the OECD countries for which the debt ratio is compared in passports, many key currencies such as the US, Japan, and the Eurozone were included,” he said. “How can we compare these countries and Korea on the same line?
Concerns were also expressed about the necessity of the national disaster support fund claimed in the passport. Professor Hong said, “While there are difficult classes in the midst of Corona 19, there are people who have benefited from the rise in asset prices elsewhere.”
They also raised questions about the claim that’there is enough financial capacity’. Professor Hong said, “With the Moon Jae-in administration, the demand for welfare has increased and compulsory expenditure has increased significantly. Because of this, even if the current status is maintained, the debt will continue to rise.
“Debt is, after all, money that has to be paid off someday. “The more we spend now, the more burdens will be passed on to future generations,” he said. If this kind of reckless budget management continues, the national finances will eventually get rid of.”
Professor Hong also empathized with the need for an active role in finance in a crisis situation such as Corona 19, but also emphasized effective allocation. He emphasized, “It takes a lot of money to give to everyone, but in the end, the subsidies for the victims will inevitably be less.” .
“It is true that even in the case of customized damage support, it is true that fairness by industry comes out, but the selective direction of support is correct,” he said. In this case, Korea, which had been in a downturn before the Corona 19 crisis, could fall into a bigger prolonged recession.”
Regarding the recurring claims of the former national disaster subsidy in his passport, he said, “It looks like he will spend money outside without considering the circumstances of the family at all in order to establish face. If someone makes a face like that, The family has no choice but to taste to die,” he criticized.