S. Korea aims 3 percent expansion in 2017 budget


(MENAFN) Gov't ministers and other public entities aims to boost their annual spending by 3 percent in the coming year, the slowest rate of growth.

Accordingly, the country submitted preliminary request for their 2017 budget which valued USD 343.19bn, compared to USD 0.3bn this year.

Government spending on edcuation will increase by 3.1 percent on-year to USD 0.047bn, while environmental spending will drop by 4.7 percent.

The budget will gain 5.3 percent to USD 0.035bn, whereas spending on foreign affairs and unification will decline 5.5 percent to USD 0.003bn.


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