Ministry of Finance and Economy to Release 52 Trillion

The Ministry of Finance and Economy will release 51.6 trillion won in the middle of the 4.4 quarter (October – December). This may create some breathing room in the suffocating economic stagnation which has continued due to shortage in demand.

Ministry of Finance and Economy`s director of finance organization, Park Dong-Sik said on November 2, ``The amount of money collected by September totals 106.3 trillion won and we expect 36.7 trillion more to come in the 4.4 quarter. The expenditure in the 4.4 quarter is expected to be 51.6 trillion won.``

``We expect 1.9 trillion won in expenditures in the second wave of the 4.4 quarter and the large increase in spending will have a positive impact on the economy.`` explained Mr. Park.

hcs@donga.com