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In light of the North Korea’s economic turmoil, their parliament i.e, the Supreme People’s Assembly of North Korea (SPA) will be meeting next month to discuss economic policies and to resolve the ongoing crisis.The agenda includes “adjustment and supplementation” of the national economic plan, as well as regulations related to city and country development, education, and recycling.

The North’s parliament meets seldom and is usually used to approve decisions made by the state’s dominant Workers’ Party, whose members make up the vast majority of the assembly. According to KCNA (news agency), the decision to assemble the parliament was made during a plenary meeting of the SPA’s standing committee.

According to South Korea’s central bank, North Korea’s economy contracted at its fastest rate in 23 years in 2020, owing to ongoing UN sanctions, COVID-19 lockdown measures, and terrible weather.Although there have been no verified instances of COVID-19 in North Korea, the country has closed its borders and implemented tight preventative measures, perceiving the epidemic as a threat to national survival.

In June, North Korean leader Kim Jong Un stated the country’s food situation was “tight,” citing the epidemic and typhoons from the previous year. Another wave of severe storms has struck this summer, prompting fears that the harvest could be harmed. Kim remarked that the country’s current economic troubles are akin to those of the 1990s, when the North suffered acute poverty and malnutrition, and he advised his citizens to brace themselves for a more difficult fight.The parliament is the highest organ of government under the constitution, but the ruling party views it as a rubber stamp. In March or April, it normally has a plenary session to discuss the budget and government reshuffles.

After a session in January, the forthcoming conference in late September will be the second such event of the year.

Team Eastern Interest
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