Menu Content
Go Top

Economy

Gov't Raises Record 10 Tln Won through Expenditure Restructuring

Written: 2020-06-03 10:13:37Updated: 2020-06-03 13:38:47

Gov't Raises Record 10 Tln Won through Expenditure Restructuring

Photo : YONHAP News

The government has saved a record ten trillion won through restructuring budget expenditures to help finance its largest-ever extra budget plan. 

The government said Wednesday the move came after reviewing the results of budget execution by all government agencies and their projects.  

The move is apparently aimed at coming up with funds while reducing the issuance of bonds which could aggravate the country's fiscal health. 

With the restructuring of budget expenditures, the government sharply slashed budgets related to welfare by 800 billion won, social infrastructure by 600 billion won and industries by 500 billion won.  

Spending toward civil servants’ execution of duties and special activities were also drastically reduced.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >