South Korean parliament approves 2020 government budget
Reuters
Published Dec 10, 2019 07:27AM ET
South Korean parliament approves 2020 government budget
SEOUL (Reuters) - South Korea's parliament on Tuesday approved next year's government budget worth 512.3 trillion won ($434.40 billion), sharply raised from this year to support the faltering economy and expand welfare spending.
It marked a 9.1% increase from this year's budget of 469.6 trillion won when excluding a 5.83 trillion won extra spending bill adopted later in the year, although scaled down from the government's proposal for 513.5 trillion won.
South Korea's fiscal year starts on Jan. 1.
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Written By: Reuters
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