S. Korea executes 76 pct of annual budget spending as of Q3

SEJONG, Oct. 23 (Yonhap) -- South Korea has spent 76 percent of its annual budget so far this year as it seeks to frontload its spending to boost economic recovery, the finance ministry said Thursday.

The government has executed 227.7 trillion won (US$216 billion) in spending as of the end of the third quarter, according to the ministry. This represents 76 percent of the total spending target of 299.4 trillion won.

The ministry provided a bleak assessment of current economic conditions, saying that the recovery momentum is weakening, affected by sluggish domestic demand and low inflation along with downside risks in the global economy.

kokobj@yna.co.kr
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