World Economy

Moon’s Extra Budget Plan Approved

Moon’s Extra Budget Plan ApprovedMoon’s Extra Budget Plan Approved

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, Bloomberg reported. 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. The extra money will help Korea return to 3% GDP growth, Moon said during a cabinet meeting in June, but the delay raised concerns about how the new government would actually implement its economic policies, given that it doesn’t have a parliamentary majority.


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