Go to Contents Go to Navigation

Gist of proposed 3rd extra budget

All News 10:00 June 03, 2020

SEJONG, June 3 (Yonhap) -- The following is the gist of the 35.3 trillion-won (US$29 billion) extra budget that was unveiled by the Ministry of Economy and Finance on Wednesday.

Some 11.4 trillion won eyed to make up tax-revenue shortfalls

Some 11.3 trillion won earmarked to revive economic growth
-- 3.7 trillion won will be used to boost consumption
-- 5.1 trillion won will be used for Korean version of the New Deal
-- 2.5 trillion won will be used to help companies export containment devices
-- to expand nationwide fifth-generation telecom networks
-- to install renewable energy equipment at public places

Some 9.4 trillion won earmarked for social safety nets
-- 8.9 trillion won will be used to strengthen employment safety nets
-- to create more than 550,000 jobs
-- 500 billion won will be used for low-income households


Some 5 trillion won set aside to deal with the economic slowdown
-- 1.9 trillion will be used to help small and medium-sized merchants hit by the pandemic
-- 3.1 trillion won will be used to provide liquidity to key industries
(END)

Keywords
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!