President warns against "wasteful" use of budget

SEOUL, Jan. 6 (Yonhap) -- President Lee Myung-bak on Tuesday urged careful
planning of government spending this year as the country moves to spend more than
half of its annual budget in the first half as an economic stimulus.
"We may fail to efficiently use the budget if we are only focused on spending the
money. Ministries and provincial bodies must thoroughly consult with one another
in advance," the president said at a Cabinet meeting, according to his spokesman
Lee Dong-kwan.
Lee also ordered his ministers to establish a system to monitor if any money has
been spent wastefully, the spokesman said.
Seoul is set to spend as much as 60 percent of its state budget in the first six
months of the year to help revive the slumping economy.
"The possibility of overlap spending increases as we try to execute such a large
budget in the first half of the year, and its effect could decline," the
president was quoted as saying.
But the country could experience a significant synergy from concentrating its
spending if the government ministries and self-governing bodies of provincial
governments work together, he noted.
bdk@yna.co.kr
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