South Korea's New Budget Boost for Economic Recovery
South Korea plans to introduce a second supplementary budget this year to support economic recovery. The new budget, following a 13.8 trillion won package in May, aims to improve citizens' livelihoods and will be discussed in an upcoming cabinet meeting.
- Country:
- South Korea
In a move to bolster the nation's economy, South Korea's government is set to unveil a second supplementary budget for the year on Thursday. This follows an earlier budget of 13.8 trillion won approved in May.
A spokesperson from the presidential office confirmed that the new budget plan targets the revitalization of people's livelihoods, highlighting the government's commitment to economic recovery.
The budget will be a focal point at the upcoming cabinet meeting, where officials will discuss its implementation and potential impacts on the national economy. With the exchange rate currently at $1 equaling 1,362.7000 won, this budget reflects a significant financial intervention.
(With inputs from agencies.)
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