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Ministry: Proposed Supplementary Budget Not Intended as Economic Stimulus

Written: 2025-04-01 10:37:47Updated: 2025-04-01 10:40:05

Ministry: Proposed Supplementary Budget Not Intended as Economic Stimulus

Photo : KBS News

The finance ministry said its proposed supplementary budget, amounting to ten trillion won or about six-point-eight billion U.S. dollars, is not meant to serve as an economic stimulus.

At a press briefing Monday, ministry spokesperson Kang Young-kyu said its primary aim is to tackle the most urgent issues, particularly the recovery efforts after the country’s worst-ever wildfires devastated the southeastern Gyeongsang region.

The spokesperson said the budget would focus on post-wildfire recovery efforts, addressing trade issues with the U.S. and difficulties faced by the nation’s small-business owners.

Asked about the scope of the wildfire damage, Kang said an assessment will take time but that he expects the damage to be higher than in 2022, when the country’s east coast suffered severe wildfires.

The spokesperson said the ministry intends to draw up the extra budget if the rival political parties agree to handle it in April.

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