According to the Korean Central News Agency (KCNA), the North Korean Congress began in the capital, Pyongyang, on Tuesday. President Kim Jong Un welcomed the meeting. In it, the president acknowledges that his fiscal policy has failed.
In his inaugural address, Kim Jong Un said, “We have failed to achieve all the goals we set for 2016.” Similarly, Kim has announced his new five-year plan to bring the country’s economy back on track.
The North Korean economy has been in shambles for the past few years. The huge cost of building weapons has taken the country’s economy into such a state. North Korea is now one of Asia’s poorest countries. This is North Korea’s second congress during Kim’s rule. Nine years ago, Kim Jong Un started ruling the country. Since then, the country has been going through a lot of problems.
North Korea is facing a number of problems, including the United States’s crackdown on North Korea’s nuclear program and natural disasters. In 2016, Kim Jong Un called for the first Congress of his rule. The Congress convened for the second time in five years, with observers, including party workers.