South Korea's 2019 budget unlikely to be passed by legal deadline
- 5 years ago
The National Assembly's budget committee is holding last-minute deliberations of the government's roughly 420 billion U.S. dollar spending plan.
Time is ticking as the National Assembly Act stipulates the budget committee complete making cuts and additions to the budget plan by November 30th, which is today.
If not, the proposal is referred to a plenary session in its original form, unless the parties agree otherwise.
It's highly unlikely the budget committee will be done on time,... having started deliberations late due to political wrangling,... and with rival parties divided over spending for job creation and inter-Korean projects.
The proposal is on track to being passed to a smaller group of lawmakers -- consisting of a representative from each of the three main parties on the budget committee,... as well as floor leaders -- to make the final touches.
For now, the aim is to have the bill ready for a vote by Monday.
Time is ticking as the National Assembly Act stipulates the budget committee complete making cuts and additions to the budget plan by November 30th, which is today.
If not, the proposal is referred to a plenary session in its original form, unless the parties agree otherwise.
It's highly unlikely the budget committee will be done on time,... having started deliberations late due to political wrangling,... and with rival parties divided over spending for job creation and inter-Korean projects.
The proposal is on track to being passed to a smaller group of lawmakers -- consisting of a representative from each of the three main parties on the budget committee,... as well as floor leaders -- to make the final touches.
For now, the aim is to have the bill ready for a vote by Monday.