(MENAFN) South Korea's government has been accelerating fiscal spending this year in an effort to revamp the economy gripped by weak domestic demand and slumping exports, Yonhap News reported.
As of April 10, the government's fiscal spending amounted to USD97 billion, surpassing its previously set target of USD92.34 billion, the South Korean finance ministry said.
Asia's fourth-largest economy can growth 3.8 percent this year, but the Bank of Korea and International Monetary Fund expected growth to stand at 3.1 percent and 3.3 percent, respectively.
The accelerated spending is part of the government's efforts to frontload its USD288.73 billion fiscal spending plan for 2015 in the first half, the ministry added.
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