South Korea intends to allocate additional funds to fight coronavirus

On June 1, South Korean President Moon Jae-in will hold the sixth meeting of the Emergency Economic Council to discuss the creation of a third supplementary budget aimed at combating coronavirus and its consequences. This is reported by KBS with reference to representatives of the presidential administration. According to them, the meeting will discuss the details of the budget and directions of economic policy for the second half of the year. It is known that at the previous meeting, held on April 22, the Head of State ordered to prepare a plan for the third additional budget and the creation of a stabilization fund to support airlines, refineries and other sectors of the economy faced with the consequences of the spread of coronavirus. Recall that the amount of the second additional budget aimed at providing one-time financial assistance to the population amounted to 14.3 trillion won (~ $11.5 billion).

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