Seoul: Acting Finance Minister Lee Hyoung-il stated that the government currently has no intention of proposing an additional extra budget, following the recent unveiling of a second supplementary budget earlier this week.

According to Yonhap News Agency, on Thursday, the government approved a 20.2 trillion-won (US$14.7 billion) supplementary budget aimed at revitalizing domestic consumption and stimulating economic activity. This marks the second extra budget this year and the first since President Lee Jae Myung assumed office two weeks ago.

When questioned during a radio interview about the possibility of a third supplementary budget later in the year, Acting Finance Minister Lee replied, "There are currently no such plans." Addressing concerns about inflationary pressure, he mentioned that the budget's effect on inflation would not be significant.

The supplementary budget proposal, which includes cash handouts to all citizens, comes after a 13.8 trillion-won supplementary budget was passed in May. The latest plan is pending approval from the National Assembly. Lee expressed hope that lawmakers would expedite the passage of the supplementary budget bill.

Lee, who was recently appointed as the first vice finance minister, is currently filling a vacancy in the top post at the finance ministry.