Finance Minister Kim Dong-yeon says the government will sharply increase its budget spending next year helped by larger-than-expected tax revenue. 

Kim said in a keynote speech at a forum in Seoul Thursday that tax revenue over the next five years is predicted to be 60 trillion won more than initially expected. 

He said the government already collected excess tax revenue of 19 trillion won in the first half of this year. 

Kim said the initial goal was to boost budget spending by five-point-seven percent next year, but the government has proposed raising that by more than two percentage points. 

The exact growth level in budget spending will be determined next week.