The government will spend 65-point-three trillion won next year to stimulate the sluggish economy amid a global economic slowdown and slow exports.

The Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport and the Small and Medium Business Association held a joint news conference on Friday at the government complex in Sejong City to give a briefing on next year’s budget allocated for stimulating the economy.

The budget will mainly go to projects to strengthen the competitiveness of domestic exporters hit by a global slowdown and oversupply. The fund will also be spent to boost small and medium businesses’ growth and regional economies.

The government set aside 604 billion won next year for efforts to enhance exporters’ competitiveness, up 42-and-a-half percent from this year.