S. Korea likely to raise budget for 2021 by 8-9% to cope with COVID-19 woes
- 4 years ago
당정, 내년 예산안 편성 방향 논의…확장재정 유지할듯
The South Korean government and the ruling Democratic Party will be holding a meeting in the coming hours to discuss the country's 2021 budget.
The budget is largely expected to be eight-to-nine-percent higher than this year's budget, which would make it somewhere near 463 billion U.S. dollars.
The government believes that despite concerns over the nation's financial stability, a larger budget is necessary to overcome the economic turmoil caused by COVID-19.
The finalized budget bill will be sent to the National Assembly next month for review by lawmakers.
The South Korean government and the ruling Democratic Party will be holding a meeting in the coming hours to discuss the country's 2021 budget.
The budget is largely expected to be eight-to-nine-percent higher than this year's budget, which would make it somewhere near 463 billion U.S. dollars.
The government believes that despite concerns over the nation's financial stability, a larger budget is necessary to overcome the economic turmoil caused by COVID-19.
The finalized budget bill will be sent to the National Assembly next month for review by lawmakers.