South Korea's Parliament approves third extra budget of 35.1t won

[SEOUL] South Korea's Parliament on Friday approved a supplementary budget of 35.10 trillion won (S$40.84 billion) to fight the economic fallout from the coronavirus pandemic.

The passage of the third supplementary budget this year will raise the government debt to 43.5 per cent of gross national product from 41.4 per cent, the finance ministry said in a statement.

Total fiscal spending to fight the pandemic amounts to about 277 trillion won, according to the ministry.

REUTERS