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South Korea's 2019 budget unlikely to be passed by legal deadline

2018-11-30 3 Dailymotion

The National Assembly's budget committee is holding last-minute deliberations of the government's roughly 420 billion U.S. dollar spending plan.<br />Time is ticking as the National Assembly Act stipulates the budget committee complete making cuts and additions to the budget plan by November 30th, which is today.<br />If not, the proposal is referred to a plenary session in its original form, unless the parties agree otherwise.<br />It's highly unlikely the budget committee will be done on time,... having started deliberations late due to political wrangling,... and with rival parties divided over spending for job creation and inter-Korean projects.<br />The proposal is on track to being passed to a smaller group of lawmakers -- consisting of a representative from each of the three main parties on the budget committee,... as well as floor leaders -- to make the final touches.<br />For now, the aim is to have the bill ready for a vote by Monday. <br />

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