S. Korea to frontload 60 pct of its budget in 2010 H1

SEOUL, Dec. 18 (Yonhap) -- South Korea plans to frontload 60 percent of the
annual budget in the first half of next year in a bid to support an economic
recovery, the finance ministry said Friday.
"Although the economy is expected to expand around 5 percent next year, the
ministry will frontload 60 percent of fiscal budget in the first half to manage
the economy's uncertainties and solidify its recovery trend," said Kwon Oh-bong,
chief of the fiscal policy bureau at the Ministry of Strategy and Finance.
The ministry predicted earlier in the month that the nation's gross domestic
product may grow 5 percent in 2010 as the economy emerges from the global
economic downturn faster then expected.
Still, the ministry remains cautious about ending its stimulus policies
introduced to support the fragile economy, saying it will maintain its
expansionary stance until the employment rate stabilizes.
The economy, Asia's fourth largest, accelerated 3.2 percent in the July-September
period, the fastest growth in more than seven years.
As of the end of November, a total of 91.7 percent of the 272.8 trillion won
(US$231.9 billion) budget for 2009 was spent, the ministry said.
pbr@yna.co.kr
(END)