The Democratic Party of Korea announced today (19th) regarding the review of next year’s government budget proposal that they will “boldly proceed with reducing unnecessary budget without being constrained by deadlines.”
After a meeting at the National Assembly, spokesman Yoon Jong-gun shared this sentiment with reporters, stating, “We will use this as an opportunity to firmly establish the National Assembly’s authority over budget review.”
Spokesman Yoon added, “While we are not yet considering a provisional budget situation, we cannot completely rule out its possibility.”
The legal deadline for processing the budget proposal is December 2. A provisional budget is prepared when the budget proposal is not processed by December 31, the last day of the previous fiscal year, ensuring minimal government function by basing it on the previous year’s budget.
[Photo source: Yonhap News]
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