‘S Korea's extra budget not to surpass $6.1bn’

11 April, 2019 12:00 AM printer

SEOUL: South Korea's extra budget to help boost the export-driven economy would not surpass 7 trillion won (6.1 billion U.S. dollars), the country's finance minister said Wednesday.

Finance Minister Hong Nam-ki, who is also the deputy prime minister for economic affairs, told local reporters that the supplementary budget this year was not expected to top 7 trillion won (6.1 billion U.S. dollars) to meet the government's growth target between 2.6 percent and 2.7 percent, reports Xinhua.

The finance ministry planned to submit a supplementary budget bill to the National Assembly later this month to bolster the lackluster economy, caused by global economic slowdown.