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South Korean Government Will Ask Parliament For Additional Budget

The South Korean government will ask parliament this week for $ 6.3 billion as its fourth additional budget for the fight against coronavirus this year.

South Korean Government Will Ask Parliament For Additional Budget
Yazar: Tom Roberts

Yayınlanma: 6 Eylül 2020 23:04

Güncellenme: 7 Kasım 2024 11:52

South Korean Government Will Ask Parliament For Additional Budget

The South Korean government will ask parliament this week for 7.5 trillion won ($ 6.3 billion) as its fourth additional budget for the fight against coronavirus this year. The party spokesperson made a statement following the meeting on Sunday, when the ruling Democratic Party leader Lee Nak-yon, Prime Minister Chung Sye-kyun and Finance Minister Hong Nam-ki met. According to the statement, the new funds will be used to help the more vulnerable parts of the society, including low-income workers and some self-employed people.
Cash was distributed to all consumers in Korea in May. The amount, which will be the lowest of this year's additional budgets, will be financed by Treasury bond sales.
In a statement made after the meeting, Lee pointed out that the country's additional budget was issued four times in 1961, and drew attention to how desperate the current situation is. 167 new coronavirus cases were announced in the country on Sunday, after the implementation of strict social distance measures last month, the number of cases has been announced to less than two hundred for four consecutive days.
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