South Korean government submits 7.6 trillion won supplementary budget to mitigate the impact of the epidemic
After convening an interim state meeting, the South Korean government announced that it will submit the second supplementary budget of the year to the parliament, with a scale of 7.6 trillion won (about 6.19 billion US dollars), which mainly provides cash for low- and middle-income families to ease the economy caused by the outbreak influences. The Ministry of Finance stated that in order to revitalize the economy, emergency cash payments will be issued in the form of consumer coupons and gift certificates, and it is expected that they will be issued in early May. The funds for this additional budget proposal will come from funds saved by other ministries, rather than through new debt issuance. In addition, Finance Minister Hong Nanji pointed out that the government will use all feasible measures, including taxes, expenditures and fiscal measures, until the end of the economic crisis.
Anti-epidemic drugs hope to cause Dow futures to skyrocket and long-term gold to rise
On Thursday, some countries in the United States and Europe gradually relaxed restrictions, and the market’s expectations of economic recovery have increased so some pressure on gold prices. At the same time, it was reported in the day that the therapeutic effect of ridxivir significantly boosted optimism in the exciting market, and the Dow futures rose more than 900 points, which also exerted pressure on the gold price. However, in general, the impact of the epidemic on the global economy is still difficult to eliminate in a short period of time. As a result, the pressure on the US debt continues to increase due to the response to the epidemic. The market expects that the US deficit this year may be more than three times that of 2019 inflow of gold.
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