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S. Korean gov't ministries asked to cut spending by 10% for next year due to COVID-19

2020-05-06 9 Dailymotion

기재부, 내년 부처별 재량지출 10% 삭감 요구...2021년도 예산안 편성 세부지침 확정<br /><br />South Korea's government ministries are preparing to tighten their belts ready for next year's budget,... to make up for the shortfall caused by COVID-19.<br />The finance ministry on Wednesday released detailed guidelines for the 2021 budget plan,... asking each ministry to cut its spending for next year by about 10 percent.<br />Each ministry must submit papers to the finance ministry to request its budget for next year by the end of this month.<br />The finance ministry said it plans to save costs wherever possible,... to deal with a sharp increase in government spending and worsening tax revenues due to the impact of the coronavirus.<br /><br />

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