NSTworld: SouthKorea announced a stimulus package of 11.7 trillion won (US$9.8 billion) on Wednesday to cushion the impact of the largest outbreak of coronavirus outside China. covid19
Finance Minister Hong Nam-ki said the supplementary budget, subject to parliamentary approval, will channel money to the health system, child care, and outdoor markets.
Medical staff in protective gear work at a 'drive-thru' testing center for the novel coronavirus disease of COVID-19 in Yeungnam University Medical Center in Daegu, South Korea. -Reuters Of the 11.7 trillion won proposed, 3.2 trillion won will make up for the revenue deficit while 8.5 trillion won will be extra fiscal injection.
The government aims to present a finalised supplementary budget to the National Assembly on Thursday.
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