BUSINESS

[Monitor] S. Korea likely to allocate supplementary budget below W7tr in 2019

By Jung Min-kyung
  • Published : Apr 11, 2019 - 17:59
  • Updated : Apr 11, 2019 - 17:59




South Korea’s Finance Minister Hong Nam-ki said Wednesday that he expects to draw up a supplementary budget worth less than 7 trillion won ($6.1 billion) to resolve domestic issues.

The size of the budget “would not exceed 7 trillion won,” he explained, though the exact figure has yet to be confirmed.

The government is expected to submit an extra budget bill to the National Assembly this month.

On top of the stagnant global economy, the domestic issues include coping with fine dust air pollution, alongside bolstering the nation’s workforce to deal with natural disasters such as wildfires.

The International Monetary Fund has recommended Korea to allocate extra budget of some 9 trillion won to bolster its sluggish economy.


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