South Korea unveils $29bn third budget for virus-hit economy - Nikkei Asian Review

in hive-116221 •  4 years ago 

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SEOUL (Reuters) -- South Korea unveiled on Wednesday a 35.3 trln won ($28.8 billion) supplementary budget, to raise the total stimulus to 270 trillion won for an economy facing its worst growth since the 1998 Asian financial crisis due to the coronavirus pandemic.

Announcing South Korea's largest ever supplementary budget, and the third this year, the government has put in place support measures equivalent to about 14% of gross domestic product to counter the economic fallout from the coronavirus.


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