Net Increase of 2.2 Trillion Won Compared to Government Proposal in 11 Years
8.1 Trillion Won Increase and 5.9 Trillion Won Decrease... 3.5 Trillion Won in National Bond Issuance
[Asia Economy Reporter Kim Hye-min] On the 2nd, the National Assembly held a plenary session and passed the next year's budget bill worth 558 trillion won. This is the first time in six years since the enactment of the National Assembly Advancement Act in 2014 that the budget bill was processed by the legal deadline (December 2).
The budget bill passed that day increased by 2.1972 trillion won from the government's 555.79 trillion won. It is the largest ever, and it is the first time in 11 years since 2010 that the budget bill has increased net compared to the government's proposal.
Through the National Assembly's review, specifically, 8.0848 trillion won was increased, and 5.8876 trillion won was reduced. It was decided to issue an additional 3.5 trillion won in government bonds.
The National Assembly explained, "In the case of increased projects, the increased funds will be covered as much as possible within the reduction range, but to provide customized damage support due to the resurgence of COVID-19, government bonds will be issued additionally beyond the net increase."
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