The government proposed a large budget for 2019. Total expenditures will be increased by 41.7 trillion won, or 9.7 percent, compared with the 2018 budget, but the impact on fiscal balance and national debt will be limited given increased tax revenues. A total of 470 trillion won will be spent to help create jobs, support future growth engines, strengthen social safety nets, support low-income households, improve citizen well-being and enhance national security.
The 2018-2022 fiscal management plan is drawn up to buttress job creation and support the development of new technologies and industries, as well as to ensure fiscal sustainability.
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The Economic Bulletin is a monthly English publication that covers the current status and future outlook of the Korean economy, as well as key economic policies and indicators. By sharing such information with foreign residents in Korea and international opinion leaders, the Economic Bulletin aims to generate a greater international level of understanding on the Korean economy.