South Korea's fiscal spending in the second half of the year will be determined by the amount of tax revenue and the effect that front-loading the budget will have on economic growth, the top economic policymaker said Wednesday.

Speaking to reporters after chairing a fiscal policy advisory meeting in Seoul, Finance Minister Choi Kyung-hwan said that the top priority for now is to inject as much money as possible into the economy in the January-June period.

The finance ministry said the goal is to spend 183.6 trillion won ($165.5 billion), or 58.6 percent of the 313.3 trillion won budget, in the first six months of this year to help maintain the economy's growth momentum.

"Front-loading is critical to strengthening the country's growth momentum," the official stressed.

Choi has raised concerns that while the economy is recovering, the pace is weak and inconsistent.

Choi, who doubles as deputy prime minister in charge of economic affairs, said that after assessing the impact of budget spending and taking into account how much tax is collected, the government will take necessary steps in the second half.

Following the central bank's move to reduce key rates to the lowest level ever, expansionary monetary policy measures are being taken that can allow more funds to reach the market. Such a development can buoy spending and growth, he said.

Choi also said that at the moment there is no plan to ask the National Assembly for a supplementary budget.

On the government's annual growth forecast that has been set at 3.8 percent, which many local think tanks and even the Bank of Korea believe to be unrealistically high, Choi said there is no plan to mark it down.

The deputy prime minister and other officials have repeatedly said that the economy is closely linked to public sentiments, and that lowering the growth target could fuel uncertainty about the future, and send signals that could actually hurt the economy. (Yonhap)