National Assembly's budget committee reviews 2019 budget
  • 5 years ago
국회 예산전쟁 스타트... 예결위 등 예산심사 시작

At the national assembly.
Rival parties kicked off deliberations of the government's spending plan for next year.
But the passage isn't expected to be easy with the opposition seeking massive cuts.
Kim Min-ji zooms in on the brewing parliamentary budget war.
The National Assembly's budget committee officially began deliberations of the government's 2019 spending plan on Monday,... with top government officials grilled by rival lawmakers over the specifics of the proposal.
The government is asking for roughly 420 billion U.S. dollars -- up 9-point-7 percent on year.
About a third of the budget has been earmarked for the health, welfare and labor sectors,... while the budget for job creation has been set at a record high of 20 billion dollars.
The spending for inter-Korean projects is up 14 percent on year at 980 million,... in light of the reconciliatory mood on the Korean Peninsula.
The ruling Democratic Party is aiming to pass the budget as the government proposes,... in order for the administration's policy initiatives to be implemented smoothly,... and says that it will be the basis for propping up the economy.... and ridding the country of polarization.
"The most important goal of this budget is creating an inclusive nation in which everyone prospers. We have to put in all efforts to pass the budget,... especially when it comes to spending related to people's livelihoods, like child benefits, job stability funds and basic pensions."
But the main opposition Liberty Korea Party is eyeing massive cuts to the budget.
It claims the government is addicted to spending taxpayers' money, saying that the government cannot use the budget to create short-term jobs to cover up weak job growth figures,... nor set aside a more money for inter-Korean projects without progress on denuclearization.
"We will seek to cut the budget for temporary jobs and inter-Korean projects,... and use that money to address serious issues,... such as the low birth rate. We will do our best to boost the country's potential growth by using the budget for areas related to security, childcare and the low birth rate."
The Assembly has until November 30th to review the budget before putting it up for a full floor vote.
Opposition support will be crucial for the ruling party that holds 129 of the 299 seats in parliament.
Although at the end of the day they will have to make concessions and work through their differences,... the tug of war between the parties is expected to intensify in the coming weeks.
Kim Min-ji, Arirang News.
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