Korean government to draw up supplementary budget in April
- 5 years ago
The South Korean government has yet another supplementary budget in the works.
Officials say they will submit a proposal on an extra budget to the National Assembly in the coming weeks.
It will be used to tackle fine dust and breathe life into the slowing economy.
For more, we connect to our parliamentary correspondent Kim Min-ji.
Minji, give us the details.
The government is seeking to draw up a supplementary budget this month.
During a meeting between the ruling Democratic Party, government and presidential office this morning,... the three sides agreed on the need for the extra budget to address fine-dust pollution and tackle downside economic risks.
The exact figure has yet to be decided,... but it would be the third extra budget of the Moon administration.
With it, the government plans to expand infrastructure that will entail reducing the emission of fine-dust and scientifically measuring it... so people's health and safety are not compromised.
Not only that, it will be aimed at taking preemptive measures against downside economic risks.
They noted the recent slash in the growth forecast for the global economy,... and the slowdown in the country's exports and investments for the past couple of months.
They also vowed to use the extra cash to create jobs and help regions designated as crisis zones,... and foster social safety nets.
Min-ji, I understand the three sides also discussed ways to provide support to the city of Pohang that was hit by an earthquake in 2017?
That's right.
The government said it will look over the measures implemented so far,... and revise them if necessary,... as well as stipulate further support measures and provide for fact-finding.
A state-led investigation team in March said it was probably triggered by an experimental geothermal power plant that harnesses energy from the ground.
If you recall,... the 5-point-4 magnitude quake injured more than 100 people and caused 70 million U.S. dollars worth of damage.
The three sides also agreed to push for enacting a special law on the Pohang quake and forming a special parliamentary committee tasked with looking into the incident.
Lastly,... the ruling party also vowed to swiftly pass bills related to economic revitalization.
The participants called for all out efforts to ensure bills related to flexible working hours and the minimum wage are passed during a plenary session this Friday.
It called on the ruling party to do more to engage in dialogue with the opposition bloc in order to get a set of reform bills rolling.
That's all from me, back to you.
20190402
Officials say they will submit a proposal on an extra budget to the National Assembly in the coming weeks.
It will be used to tackle fine dust and breathe life into the slowing economy.
For more, we connect to our parliamentary correspondent Kim Min-ji.
Minji, give us the details.
The government is seeking to draw up a supplementary budget this month.
During a meeting between the ruling Democratic Party, government and presidential office this morning,... the three sides agreed on the need for the extra budget to address fine-dust pollution and tackle downside economic risks.
The exact figure has yet to be decided,... but it would be the third extra budget of the Moon administration.
With it, the government plans to expand infrastructure that will entail reducing the emission of fine-dust and scientifically measuring it... so people's health and safety are not compromised.
Not only that, it will be aimed at taking preemptive measures against downside economic risks.
They noted the recent slash in the growth forecast for the global economy,... and the slowdown in the country's exports and investments for the past couple of months.
They also vowed to use the extra cash to create jobs and help regions designated as crisis zones,... and foster social safety nets.
Min-ji, I understand the three sides also discussed ways to provide support to the city of Pohang that was hit by an earthquake in 2017?
That's right.
The government said it will look over the measures implemented so far,... and revise them if necessary,... as well as stipulate further support measures and provide for fact-finding.
A state-led investigation team in March said it was probably triggered by an experimental geothermal power plant that harnesses energy from the ground.
If you recall,... the 5-point-4 magnitude quake injured more than 100 people and caused 70 million U.S. dollars worth of damage.
The three sides also agreed to push for enacting a special law on the Pohang quake and forming a special parliamentary committee tasked with looking into the incident.
Lastly,... the ruling party also vowed to swiftly pass bills related to economic revitalization.
The participants called for all out efforts to ensure bills related to flexible working hours and the minimum wage are passed during a plenary session this Friday.
It called on the ruling party to do more to engage in dialogue with the opposition bloc in order to get a set of reform bills rolling.
That's all from me, back to you.
20190402