2nd Supplementary Budget of 2020 Passed
2nd Supplementary Budget Passed,
Extra Spending Increased to 12.2 Trillion Won
The 2nd supplementary budget worth 12.2 trillion won was passed at the National Assembly on April 30, extra spending revised up to 12.2 trillion won from 7.6 trillion won proposed by the government. The supplementary budget will be used to finance the household emergency relief program of up to 1 million won for each household. A total of 14.3 trillion won will be spent on the relief program, including 1.2 trillion won worth of local government funds.
1. 2nd supplementary budget of 2020 passed
(trillion won, %)
|
|
2019 Original
|
2020
Original
|
2020 Supplementary
|
Change (B-A)
|
|
1st (A)
|
2nd (B)
|
|
Total Revenues
(y-o-y, %)
|
476.1
(6.5)
|
481.8
(1.2)
|
481.6
(1.2)
|
482.2
(1.3)
|
0.5
|
|
Total Expenditures
(y-o-y, %)
|
469.6
(9.5)
|
512.3
(9.1)
|
523.1
(11.4)
|
531.1
(13.1)
|
8.0
|
|
Consolidated Fiscal Balance
(% to GDP)
|
6.5
(0.3)
|
-30.5
(-1.5)
|
-41.5
(-2.1)
|
-48.9
(-2.5)
|
-7.4
(-0.4%p)
|
|
Consolidated Fiscal Balance without Funds
(% to GDP)
|
-37.6
(-1.9)
|
-71.5
(-3.5)
|
-82.0
(-4.1)
|
-89.4
(-4.5)
|
-7.4
(0.4%p)
|
|
Government Debt
(% to GDP)
|
740.8
(37.1)
|
805.2
(39.8)
|
815.5
(41.2)
|
819.0
(41.4)
|
3.4
(0.2%p)
|
2. Source of finance
12.2 trillion won = 8.8 trillion won (spending restructuring) + 3.4 trillion won (debt issuance)
Please refer to the attached pdf
