(MENAFN) The Finance ministry said that South Korea's total spending of its annual budget hits 76 percent this year as it plans to frontload its spending to boost economic recovery, QNA reported.
The government has accomplished about USD16 billion in spending as of the end of the third quarter, according to the ministry.
However, this indicates 76 percent of the total spending of USD283.9 billion, local media shows.
The ministry provided a bleak assessment of current economic conditions, saying that the recovery momentum is weakening, affected by sluggish domestic demand and low inflation along with downside risks in the global economy.
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