Next years budget 639 trillion formation… Article 24 expenditure restructuring
The government has organized its budget next year to 639 trillion won, up 5.2% from this year’s budget. Unlike the expansion fiscal stance in accordance with Corona 19 response, which is the largest expenditure restructuring of 24 trillion won, the willingness to finance the health was reflected.
Compared to the total expenditure of 679.5 trillion won, which combines two additional revision budgets for this year’s budget, the budget will be reduced by 40 trillion won next year. It is only 13 years since 2010 that this year’s budget decreases from the previous year’s total expenditure.
The government held a cabinet meeting on the 30th and deliberated the 2023 budget.
Next year’s government budget will be submitted to the National Assembly on September 2.
Deputy Prime Minister Choo Kyung-ho and Minister of Strategy and Finance said in a pre-briefing, It has been reduced compared to the first year since 2010. I explained.
It means that the national debt will exceed 1,000 trillion won, and we will weigh the financial soundness.
Although government spending has been reduced, President Yoon Seok-yeol plans to promote major policy projects that he pledged as presidential candidate.
For example, it is eye-catching to maintain a semiconductor gap between 1 trillion won, 700 billion won to restore the nuclear power industry ecosystem, core strategic technology and R & D investment of 4.9 trillion won in the field of union challenges. In addition, low-income living benefits were raised from 1.54 million won a month to 1.62 million won per month, and disability allowances were raised from 40,000 won to 60,000 won per month, and basic pensions from 308,000 won per month to 322,000 won, respectively.
In addition, the disaster safety project, which invested a total of KRW 1 trillion in debt adjustment and reversion support, so that small business owners could escape the aftermath of the Corona, and installed three rainwater storage tunnels in response to natural disasters such as floods and droughts.
On the other hand, there was no budget reflection of the local currency support, which was emphasized in order to revitalize regional consumption, and the development of the previous government. Jobs, infectious diseases, SOC, energy, and cultural budgets were greatly cut.
The company has left the company to support the start-up to the private sector, and the industry and digital infrastructure support projects have been reorganized by private. It means to minimize government spending.
Among the Financial Committee, 81 organizations will be merged, civil servants will be paid 10% or higher, including the president, freezing of more than 4 levels, freezing of more than 4 levels.
Despite this transition to tightening fiscal, national debt will increase to 1.13 trillion won, up 66 trillion won from this year.