68% of next year’s budget will be spent in first half

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68% of next year’s budget will be spent in first half

Korea’s finance ministry said Friday that over two-thirds of the state budget for 2018 has been allocated to the first half of the year, as the government aims to help boost its income-led growth in Asia’s fourth-largest economy.

According to the ministry, 68 percent of its earmarked 368.6 trillion won ($335.4 billion), which covers welfare and other fiscal spending, has been front-loaded for use during the January-June 2018 period.

Yonhap
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