Economics
South Korea's Parliament Approves 11T Won Extra Budget Plan
- Extra Budget will help Korea return to 3% GDP growth: Moon
- The bill has been stuck in parliament for over a month
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South Korea’s parliament approved an extra budget that had been caught up in a fight between the new government and the opposition for the past month.
The 11 trillion won ($9.8 billion) in extra spending is the centerpiece of President Moon Jae-in’s plans to create tens of thousands of new jobs and boost growth. Budget approval was delayed after disagreement between the ruling and opposition parties over a number of issues, including the president’s nominations for various offices.