South Korea’s government budget is expected to hover around 542 trillion won ($449 billion) next year, rising 6 percent from the 2020 budget, according to plans submitted by each government branch to the Ministry of Economy and Finance.
The ministry said the combined budget requested by each government branch for 2021 stood at 542.9 trillion won.
The budget amount, if approved, will be up 6 percent from the 2020 budget.
The country’s government budget has been increasing around 6 percent each year for the four consecutive years.
The budget grew 6 percent from 2017 to 2018, 6.8 percent from 2019 to 2020.
(
khnews@heraldcorp.com)
