President Moon Jae-in will be giving a policy speech at the National Assembly Wednesday morning on the budget for 2021.
Moon is expected to highlight the need for thorough quarantine measures and efforts to prop up the economy to ensure going forward that Korea can withstand crises.
Next year’s proposed budget calls for spending worth 555.8 trillion won, or just under 500 billion U.S. dollars an on-year increase of 8.5 percent.
Moon is expected to urge lawmakers to pass it before the legal deadline of December second.
They are, however, likely to clash over the size of the budget and its effect on the country’s fiscal soundness given that the government has already used four extra budgets this year.
Moon is expected to highlight the need for thorough quarantine measures and efforts to prop up the economy to ensure going forward that Korea can withstand crises.
Next year’s proposed budget calls for spending worth 555.8 trillion won, or just under 500 billion U.S. dollars an on-year increase of 8.5 percent.
Moon is expected to urge lawmakers to pass it before the legal deadline of December second.
They are, however, likely to clash over the size of the budget and its effect on the country’s fiscal soundness given that the government has already used four extra budgets this year.
Reporter : kimmj@arirang.com
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