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Moon urges opposition parties to approve extra budget

All Headlines 11:18 July 11, 2017

SEOUL, July 11 (Yonhap) -- President Moon Jae-in again urged the opposition parties Tuesday to approve the government's request for an extra budget, calling it an urgent issue imperative to the economic recovery.

"At the Group of 20 summit, all international organizations, including the Organization for Economic Cooperation and Development, diagnosed the global economy as being in a recovery phase," the president said in a Cabinet meeting, according to pool reports.

Moon returned home Monday after his five-day trip to Germany where he attended the annual G-20 summit.

"However, each country must still do their utmost to continue this upward economic trend because, internationally, there remain many uncertainties, such as protectionism," he said.

"I believe our supplementary budget is in perfect accordance with such efforts," he added.

The new government has submitted a bill for a 11.2 trillion-won (US$9.75 billion) extra budget, but the opposition-led parliament has so far failed to act on the government request.

The president earlier insisted the additional spending will help accelerate the country's economic recovery and growth.

"It will be the strength for our economy to escape the (low) growth rate in the 2 percent range," Moon told the Cabinet.

bdk@yna.co.kr
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