SEOUL, Aug. 20 (Yonhap) — President Moon Jae-in on Friday ordered top officials to earmark sufficient funds related to COVID-19 vaccines in next year’s state budget, Cheong Wa Dae said.
After receiving a briefing from Finance Minister Hong Nam-ki on next year’s budget blueprint, Moon instructed financial authorities to be fully ready in terms of the coronavirus response by drawing up a vaccine-related budget that is ample in size, presidential spokesperson Park Kyung-mee said.
“It appears that the vaccine procurement budget is earmarked sufficiently, but there are lots of factors, such as the potential appearance of a new variant virus type and lowering of the inoculation age,” Moon was quoted as saying while instructing the officials.
According to Park, the president underscored the need to draw up emergency funds to deal with the unprecedented virus crisis but also highlighted the need to work toward a balance between expansionary fiscal policy and financial sustainability.
Moon also pointed out the need to reserve funds for seasonal management of coal power plants and carbon neutrality projects as means to push forward the administration’s goal to achieve zero carbon emissions by 2050.