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President Lee Jae-myung delivers remarks during a joint State Council and Emergency Economic Review Meeting held at the Blue House on May 26. / Photo via Yonhap News

President Lee Jae-myung emphasized on May 26 that the government must "proactively prepare for shifts in conditions following the war in the Middle East."

President Lee presided over a State Council meeting at the Blue House on the day and ordered, "Amid difficult external conditions such as the prolonged war in the Middle East, our economy is recovering and growing rapidly, with forecasts suggesting this year's nominal growth rate could approach 10%. We must meticulously formulate our economic strategies for the second half of the year to reflect these shifting circumstances."

President Lee particularly stressed, "Our top priority must be focused on stabilizing consumer prices," adding, "We must also initiate structural reforms in earnest, including the mitigation of economic polarization."

Furthermore, President Lee requested, "Please ensure a precise and swift policy response anchored on the active role of fiscal policy so that this year marks the inaugural year for a rebound in our potential growth rate."

At the same time, President Lee emphasized, "We must decisively slash non-essential fiscal expenditures," adding, "It is our responsibility to properly utilize the taxes and authority entrusted to us by the public, solely for the benefit of the people."

                                                                                                              Hong Sun-mi