SEOUL, 12 February, 2021 (TON): Kim Jong-un, N. Korean leader criticized the performance of his cabinet and fired a month ago appointed senior economic official saying that they had failed to come up with new ideas to salvage an economy in decay.

On Friday, the report has come during the toughest period of his rule. He hoped for diplomacy that could lift the U.S.-imposed sanctions over his nuclear program but it seemed impossible.

Some analysts say the current challenges may set up conditions for an economic perfect storm in the North that destabilizes markets and triggers public panic and unrest.

He publically admitted the failure of the economic plans considering the current challenges. In January, a five-year plan was issued by the Worker’s Party congress but Kim’s comments during the party’s central committee meeting displayed frustration for the execution of the plans lately.

During Thursday’s session, Kim lamented that the Cabinet was failing in its role as the key institution managing the economy, saying it was producing unworkable plans while displaying no “innovative viewpoint and clear tactics.”

He said the Cabinet’s targets for agricultural production this year were set unrealistically high, considering limited supplies in farming materials and other unfavorable conditions. He said the Cabinet’s targets for electricity production were set too low, showing a lack of urgency when shortages could stall work at coal mines and other industries.

“The Cabinet failed to play a leading role in mapping out plans of key economic fields and almost mechanically brought together the numbers drafted by the ministries, Kim said.

He also vowed all-out efforts to bolster his nuclear weapons program in comments that were seen as an attempt to pressure the new Biden administration.

It is seen that there are signs that the North is taking dramatic steps to strengthen government control over markets, including suppressing the use of US dollars and other foreign currencies.