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2021 budget bill approved by the National Assembly
In the Plenary of the 382nd National Assembly held in the National Assembly on the afternoon of the 2nd, the budget for 2021 is being approved. News 1
The budget for next year, confirmed on the 2nd, was 558 trillion won, an increase of 2.2 trillion won compared to the government draft. The government budget was reduced by 5.3 trillion won and spending increased by 7.5 trillion won. In response to the situation of the reproliferation of the crown, the total spending has increased in 10 years during the discussions in the National Assembly.
Democratic Party Policy Chair Han Han-ae and Democratic Party Secretary Park Hong-geun of the National Assembly Special Committee on Budget and Clearance held a meeting on next year’s budget outcome at the National Assembly, saying: “The budget plan for next year is to overcome the current Crown 19, drive economic recovery and implement the Korean New Deal national task for a leading economic transition. It’s a public welfare budget that speeds up the process, “he explained.” The increase was primarily focused on eight projects in total. “
A total of 7.5 trillion won (net increase of 2.2 trillion won), which is an increase from the government draft (555.8 trillion won), is mainly △ Responding to Corona 19 and strengthening the protection of people’s lives △ Promoting balanced regional development and revitalizing the local economy △ Personalized well-being for the vulnerable, including ordinary people Said to have been divided into eight areas, including strengthening support, responding to climate change by achieving carbon neutrality, and strengthening competitiveness of SMEs and small businesses.
First, custom damage support (third disaster support fund) in accordance with the third Corona 19 extension added in the course of discussions in the National Assembly was put into the purpose reserve on a scale of 3 trillion won . However, specific objectives, scale and method of support have not been determined. Since the period and economic impact of the current 3rd proliferation cannot be estimated, only the budget has been allocated first.
A government official said: “We will draw up a concrete plan taking into account future developments.”
The budget for the purchase of the Corona 19 vaccine, which has attracted attention, has been increased by 900 billion won. When you combine the 360 billion won already secured for this year’s fourth supplemental budget, it is approximately 1.3 trillion won, which the National Assembly and the government expect to secure 44 million vaccines. In addition, 3 infectious disease specialty hospitals were completed in the area by 2023, and an additional 50.4 billion won was added to strengthen infectious disease response capacity.
With the budget approved that day, the national debt is expected to reach 956 trillion won next year. Consequently, the ratio of national debt to gross domestic product (GDP) shot up to 47.3%, reaching a record high.
Although he promoted the ‘public welfare’, not a few traces of the political interests of the opposition parties remain on his back. Gadeokdo, which is criticized for being aware of the Busan mayor’s by-elections in April next year, has also increased the cost of research and service to review the adequacy of the new airport by 2 billion won, as claimed by the Democratic Party. The design cost for the construction of the King Sejong National Assembly Building, which may affect public sentiment in the Chungcheong region, also increased by 11.7 billion won.
The government did not disclose specific figures on how much the budget related to the Korean version of the New Deal was reduced. However, as the power of the people agreed to face the budget, it appears that the budget related to the New Deal covered a large part of the disaster support fund.
The government appears to welcome the passage of the anticipated budget bill. Vice Premier Hong Nam-ki and the Minister of Strategy and Finance made a comment on Facebook immediately after the budget was finalized, saying, “The budget was approved approximately one month before the start of the fiscal year, and since 1 January next year, the budget to overcome Crown 19 and recover the economy immediately In the sense that it can be put into operation, it is more significant than ever. “
Seongtaek Lee reporter [email protected]
Youngha son reporter [email protected]
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