April 20, 2024
Economy
Korea to consider extra budget by Feb.
[THE INVESTOR] The South Korean government and ruling party reached an agreement on Dec. 23 to consider drafting a supplementary budget by February to support the sluggish economy.
Economic officials and the Saenuri Party also decided to spend 30 percent of next year’s budget in the first quarter and at least 60 percent in the first half to cope with sluggish domestic demand and exports.
“As tax revenue stands relatively sound, we strongly requested the government to draft an extra budget by February. The government said it would actively consider the plan,” Rep. Lee Hyun-jae, the policy chief of Saenuri, said after a policy consultation meeting with the top finance and industry policymakers.
They also agreed to take steps to stabilize egg prices which have been skyrocketing due to the spread of avian influenza, including transport and tax support for imported eggs.
(theinvestor@heraldcorp.com)
Economic officials and the Saenuri Party also decided to spend 30 percent of next year’s budget in the first quarter and at least 60 percent in the first half to cope with sluggish domestic demand and exports.
“As tax revenue stands relatively sound, we strongly requested the government to draft an extra budget by February. The government said it would actively consider the plan,” Rep. Lee Hyun-jae, the policy chief of Saenuri, said after a policy consultation meeting with the top finance and industry policymakers.
They also agreed to take steps to stabilize egg prices which have been skyrocketing due to the spread of avian influenza, including transport and tax support for imported eggs.
(theinvestor@heraldcorp.com)
