Parties agree to deal with coronavirus extra budget bill next week

SEOUL, Rival political parties agreed Tuesday to handle an extraordinary budget to cope with the economic fallout from the COVID-19 pandemic next week.
The ruling Democratic Party and the main opposition People Power Party reached an agreement to vote on this year’s fourth supplementary budget bill on Sept. 22, Park Hong-keun, a DP lawmaker said.
Last week, the government submitted a 7.8 trillion won (US$6.6 billion) extra budget bill aimed at helping small merchants and self-employed people most affected by a recent resurgence of the new coronavirus. It marked the first time in 59 years for the South Korean government to allocate four extra budgets in a single fiscal year.
Parliament’s special committee on budget and accounts will hold a meeting with Finance Minister Hong Nam-ki and other economic officials on Friday to review the supplementary budget bill.

Source: Yonhap News Agency

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