National Assembly passes US$ 13 bil. supplementary budget bill to be used for 4th round of COVID-19 emergency relief
'4차 재난지원금' 추경안 본회의 통과…15조원 규모
A supplementary budget to be used for a fourth round of COVID-19 emergency relief in South Korea has been passed by the National Assembly.
Hong Yoo reports.
The supplementary budget bill to be used for a fourth round of Covid-19 emergency relief has been passed by the National Assembly on Thursday.
The amount is the same as what the government initially proposed,... clocking in at more than 13 billion U.S. dollars.
But it took some time for the ruling Democratic and the main opposition People Power Party to come to an agreement.
More than 7 billion dollars have been allocated to support those affected by Covid-19, more than 2 billion for employment measures and more than 3 billion for disease prevention measures such as the purchase of vaccines.
A major adjustment from the initial proposal are changes aimed at making sure the budget helps as many groups as possible that have been affected by COVID-19.
Almost half of the budget will be used to help small business owners and entrepreneurs, but the amount set aside for employment measures has been reduced.
Support for farmers and fishermen who are struggling due to the drop in consumption has also increased by 200 million dollars.
100-million dollars more has been allocated to help those whose jobs are most vulnerable to the impact of the pandemic, such as rental bus drivers whose income has dropped due to a decline in demand.
Businesses in the culture, tourism, and sport sectors will receive almost 50 million dollars more from what was initially proposed.
Now with the extra budget bill passed, around 17-point-6 billion dollars will be used for the fourth round of COVID-19 emergency relief.
The government plans to distribute relief funds within this month.
Hong Yoo, Arirang News.
#Budget #COVID19 #SouthKorea
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2021-03-25, 12:00 (KST)
