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Monday 15 August 2016

South Korea - 2017 budget may double from 2005: ARIRANG NEWS

Published on Aug 14, 2016
내년 첫 400조 '슈퍼예산' 가능성... 12년만에 2배
Korea's national budget next year may, for the first time, exceed 400 trillion won,... or about three-hundred-62 billion U.S. dollars. 

That's roughly double the amount it was back in 2005.

Officials say the estimate is based on the government and ruling party's recent agreement to increase the 2017 budget by three to four percent from this year.

Key contributors to the rise include programs to improve youth employment, the chronically low birthrate and aging society.

The amount set aside for health, welfare, and jobs is expected to hit a record of over one-hundred-18 billion dollars.

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