S. Korean gov't ministries asked to cut spending by 10% for next year due to COVID-19
- 4 years ago
기재부, 내년 부처별 재량지출 10% 삭감 요구...2021년도 예산안 편성 세부지침 확정
South Korea's government ministries are preparing to tighten their belts ready for next year's budget,... to make up for the shortfall caused by COVID-19.
The finance ministry on Wednesday released detailed guidelines for the 2021 budget plan,... asking each ministry to cut its spending for next year by about 10 percent.
Each ministry must submit papers to the finance ministry to request its budget for next year by the end of this month.
The finance ministry said it plans to save costs wherever possible,... to deal with a sharp increase in government spending and worsening tax revenues due to the impact of the coronavirus.
South Korea's government ministries are preparing to tighten their belts ready for next year's budget,... to make up for the shortfall caused by COVID-19.
The finance ministry on Wednesday released detailed guidelines for the 2021 budget plan,... asking each ministry to cut its spending for next year by about 10 percent.
Each ministry must submit papers to the finance ministry to request its budget for next year by the end of this month.
The finance ministry said it plans to save costs wherever possible,... to deal with a sharp increase in government spending and worsening tax revenues due to the impact of the coronavirus.