문 대통령 "소비 진작 현실화"…재난지원금 효과 강조
President Moon Jae-in says he is pleased that the emergency relief payments have been able to comfort and support South Korean households.
In a Cabinet meeting today, Moon said both spending and donating the payments was helping the economy.
Kim Min-ji reports.
President Moon Jae-in highlighted the positive impact of the unprecedented cash handouts to all households in South Korea, saying that they've been able to lift consumption.
Speaking at a Cabinet meeting on Tuesday,... Moon thanked the people for actively spending the money,... adding that it's helped the economy.
It has given practical help to mom and pop stores. The disaster relief money has led to consumption, which has slowed the decline in sales of small businesses, while credit card sales have recovered to last year's level.
Perhaps a reflection of that,... consumer confidence recovered slightly in May.
Data from the Bank of Korea showed the consumer sentiment index at 77-point-6 for this month,... up 6-point-8 points from April.
The central bank attributed the improvement to the slowing pace of new infections,... the resumption of economic activity amid eased social distancing,... as well as the government's relief funds and other stimulus measures.
It saddens me that people have had to tighten their belts due to the economic contraction. I feel a sense of satisfaction that the disaster relief money has been able to warm the hearts of vulnerable people.
The president also thanked those that have donated their share,... saying that the funds will be used to help secure jobs and support people who have lost their jobs.
Moon added that it's hard for the government's fiscal measures alone to deal with an emergency situation like this,... stressing that whether it's consumption or donations, he hopes it gives the country strength to overcome the crisis.
Kim Min-ji, Arirang News.
