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South Korea plans expansionary budget for 2017

The South Korean government is looking to stay in “expansionary” mode next year with a budget of 400.7 trillion won that’s up 1.4% from this year’s budget, including the supplemental allocation for the second half. The 2017 increase is restrained by the government’s focus on “fiscal integrity,” Vice Finance Minister Song Eon-seok said, although spending would push the debt-to-GDP ratio past 40% for the first time.

Maeil Business Newspaper (South Korea) (8/30)