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Continuing budget expansion

14 0 0
05.12.2021
Spending increase should respond to emergency, stimulate growth

Last Friday, the National Assembly passed the 2022 budget of 607.7 trillion won ($516.3 billion). The government's outlays have increased by more than 200 trillion from 400.7 trillion won in 2017. The mega-budget for next year is attributed to the continuous growth of spending on expanded welfare programs under the Moon Jae-in administration and the sharp increase in fiscal need for disaster relief funding to cope with the COVID-19 pandemic.

Taxpayers are feeling uneasy, as despite heavy welfare spending........

© The Korea Times


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