S. Korea's National Assembly passed US$ 4.9 billion extra budget bill
- 5 years ago
국회, 추경안 처리…5조8천269억원 규모
The National Assembly passed a 4-point-9 billion dollar extra budget bill.
This comes over three months after the government submitted the proposal to mainly tackle downside economic risks and support recovery efforts following a string of natural disasters.
It's down from the 5-point-7 billion dollars initially proposed by the government.
Rival parties agreed to set aside roughly 230 million dollars to help the government deal with Japan's trade restrictions.
Cuts were made to projects which the opposition bloc claimed were designed to win over voters ahead of next year's general elections.
The budget vote was long delayed as there were clashes over the specifics of the budget,... especially as more than half of it is to be funded through debt.
This is the third extra budget of the Moon Jae-in administration.
The National Assembly passed a 4-point-9 billion dollar extra budget bill.
This comes over three months after the government submitted the proposal to mainly tackle downside economic risks and support recovery efforts following a string of natural disasters.
It's down from the 5-point-7 billion dollars initially proposed by the government.
Rival parties agreed to set aside roughly 230 million dollars to help the government deal with Japan's trade restrictions.
Cuts were made to projects which the opposition bloc claimed were designed to win over voters ahead of next year's general elections.
The budget vote was long delayed as there were clashes over the specifics of the budget,... especially as more than half of it is to be funded through debt.
This is the third extra budget of the Moon Jae-in administration.