Government Spent 34.9 Trillion Won or 22.7 Percent of Budget in the 1st Quarter

Government finance spent in the 1st quarter (January to March) calculated at 34.9 trillion won, or 22.7 percent of the year`s planned budgetary expenditure 154 trillion won.

The government held a meeting of special inspectors on budget execution chaired by Park Bong-Heum vice minister of the Ministry of Planning and Budget (MPB) on the 19th, and announced that it spent the budget 3.7 percent or 5.6 trillion won more than that in the same period last year.

The budget spending was for the expenditure of 41 ministries by 26.8 trillion won (spending rate 24.0 percent), 18 funds by 3.8 trillion won (16.8 percent), and 15 public companies by 4.2 trillion won (21.7 percent).

MPB announced that it already spent 70.2 billion won or 57 percent of yearly target for World Cup in the 1st quarter, for 32 business items of which 123.4 billion won is allotted.

Joong-Hyun Park sanjuck@donga.com