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Stimulus Plan Tops US$20b
Source: Agencies |
March 25, 2009, Wednesday
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Print Edition
Print Edition
THE Republic of Korea announced yesterday that it would spend 28.9 trillion won (US$20.9 billion) this year to create new jobs and shore up the economy as the country endures its worst slump in a decade.
The Ministry of Strategy and Finance said the supplementary budget "is to help ride out the economic crisis" and is more than twice the extra spending implemented during the 1997-98 Asian economic meltdown. South Korea is facing its worst downturn since then.
The Ministry of Strategy and Finance said the supplementary budget "is to help ride out the economic crisis" and is more than twice the extra spending implemented during the 1997-98 Asian economic meltdown. South Korea is facing its worst downturn since then.
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