Seoul: The Cabinet has approved an extra budget bill amounting to 31.8 trillion won (US$23.3 billion), marking the first supplementary budget under the administration of Lee Jae Myung. This decision comes as a significant step to bolster the country's economy.

According to Yonhap News Agency, the budget, which surpasses the government's initial proposal of 30.5 trillion won, was passed by the National Assembly on Friday. The approval is seen as a response to the current economic challenges facing the nation.

During the Cabinet meeting, President Lee emphasized the urgent need for the supplementary budget amid difficult economic conditions. He urged relevant ministries to implement the budget swiftly to improve the livelihoods of the people, as reported by presidential spokesperson Kang Yu-jung.

The supplementary budget is expected to play a critical role in addressing economic issues and providing relief to the citizens. The government's focus remains on executing this budget efficiently to ensure that the intended economic benefits reach the population promptly.