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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Gov’t already spends 48% of 2017 budget

  • PUBLISHED :June 22, 2017 - 10:48
  • UPDATED :June 22, 2017 - 10:48
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[THE INVESTOR] The Korean government has used nearly half of its planned budget in the first five months of the year, the Finance Ministry said on June 22.

Budget spending by the government and public institutions for the January-May period stood at 135.3 trillion won (US$118.70 billion), up 5.5 trillion won from the earlier target of 129.8 trillion won, according to the ministry.

It accounted for 48 percent of the 281.7 trillion won that the government has set aside for early fiscal execution out of the country‘s 400 trillion-won budget for 2017, the ministry said.

Some 20.1 trillion won was spent on social overhead capital projects, while 5.1 trillion won was used to create jobs.

The ministry said the government will expand its fiscal role in boosting domestic demand and easing the tightened job market.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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