South Korea Plans to Spur 2015 Public Spending
Posted September 18, 2014
(RTT News)
The South Korean government said Thursday it will increase the budget spending next year and run a wider fiscal deficit than expected to bolster economic growth that faces challenges from slow global recovery and weak domestic demand.
Government spending will rise by 5.7% to KRW 376 trillion the next year, the finance ministry said in its budget proposals. The estimated spending growth is higher than the 4% projected for 2014 and will lift the 2015 fiscal deficit to 2.1% of gross domestic product. Read more here.
