72 Percent of Budget to be Spent in the First Half of the Year to Respond to Economic Slowdown

The government decided, at the Cabinet meeting on January 3, to frontload 72% percent (213.6 trillion won) of the budget in the first half of 2013 to provide a boost to the economy in the face of the current economic slowdown.

Due to persisting global economic uncertainties, the government is promoting early fiscal response measures to actively respond to Korea's continuing economic slowdown. In order to reach a 60% target for public expenditures (which includes the budget, public funds, and public institutions) in the first half of the year, 72% of the overall budget has been allotted to the first half of the year.

(billion won)

Classification

2013 Budget

1stQuarter

2ndQuarter

3rdQuarter

4thQuarter

Budget Allotment

Amount

298,405.7

134,623.7

79,010.0

54,030.3

30,741.7

Ratio (%)

100.0

45.1

26.5

18.1

10.3

The allotment will be concentrated in projects that will have an immediate effect, such as jobs, working class support and SOC projects.

Please refer to the attached PDF.



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