Finance chief says government considering budget worth over US$ 420 bil. for 2020
- 5 years ago
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South Korea's finance minister says the government is considering a budget worth roughly 420 billion U.S. dollars for next year.
Speaking at a parliamentary meeting today,... Hong Nam-ki stressed the need for an expansionary spending plan to boost the economy.
That would be roughly a nine percent hike from this year's budget.
Hong said about 2 billion dollars of the budget will be set aside for the parts and materials industries to make those sectors more competitive and to develop home-grown technologies as a remedy to with Japan's export curbs.
The minister also said that they plan to execute 80 percent of the extra budget for those industries by the end of next month.
South Korea's finance minister says the government is considering a budget worth roughly 420 billion U.S. dollars for next year.
Speaking at a parliamentary meeting today,... Hong Nam-ki stressed the need for an expansionary spending plan to boost the economy.
That would be roughly a nine percent hike from this year's budget.
Hong said about 2 billion dollars of the budget will be set aside for the parts and materials industries to make those sectors more competitive and to develop home-grown technologies as a remedy to with Japan's export curbs.
The minister also said that they plan to execute 80 percent of the extra budget for those industries by the end of next month.