South Korea Mulls Raising Spending 2.5%

To ensure economic recovery remains on track, South Korea's government plans to increase spending 2.5% to 291.8 trillion won ($246 billion) in next year's main budget, says The Wall Street Journal.


Quoting the Ministry of Strategy and Finance, the Journal says the plan reflects the government's strategy to continue to play an active role to support economic recovery but will trim support from the public sector amid increasing signs of economic recovery.


The Ministry says the spending plan is down 3.3% from total expenditure this year of 301.8 trillion won, which includes outlays from a supplementary budget that the government compiled to help the economy through the recession. The budget, the newspaperl says, is mainly aimed at revitalizing economic activity, increasing investment for future, supporting low-income workers and creating new jobs.

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