Arab Today, arab today korean government to raise welfare budget by over 10 in 2015
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

Korean government to raise welfare budget by over 10% in 2015

Arab Today, arab today

Arab Today, arab today Korean government to raise welfare budget by over 10% in 2015

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Seoul - Yonhap

South Korea plans to raise its budget for welfare programs by more than 10 percent in 2015 from a year earlier in an effort to establish a better social safety net and revitalize the economy, the government and ruling party said Wednesday.
"The burden for the low-income bracket has been soaring due to the slowed economic recovery," a Saenuri Party official said. "To ease such agony, we plan to raise the welfare budget by over 10 percent to between 118 trillion won (US$115.12 billion) and 120 trillion won."
   The increased rate for the welfare budget will hover far above the 5 percent rise slated for the combined state expenditure estimated for next year. It will also mark the first time since 2009 that the government has increased the welfare budget at a two-digit rate.

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