Korea finance minister vows to spend more in Q2 to revitalize economyUpdated: 2014-04-16 12:07:58 (KST)
Rigorous spending, aimed at revitalizing the local economy is on the mind of Korea's top economic policymaker.
At a ministerial-level meeting Wednesday, Finance Minister Hyun Oh-seok said the government will accelerate its rate of spending in the first half of the year.
The government had originally planned to spend 55 percent of this year's budget allocated for the finance sector by June.
But Hyun said more would be funneled into it in the second quarter, especially toward the country's small- and mid-sized companies.
The government executed 24 percent of the budget in the January to March period.
Noting that economic conditions in the investment and private sectors have not fully picked up, Hyun said the government would continue to monitor external uncertainties such as the slowdown in the Chinese economy.
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