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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: S.Korea sets 10.6 pct rise in 2009 total spending Reuters - 29 minutes ago SEOUL, Dec 14 - South Korea's total state spending for 2009 was finalised at 284.5 trillion won ($207.8 billion), up 10.6 percent from this year, the finance ministry said on Sunday. The comprehensive budget included a 217.5 trillion won budget in general and special accounts approved by the parliament on Saturday and public funds under the government's direct control. The increased government spending will leave the nation's fiscal deficit at 24.8 trillion won in 2009, amounting to 2.4 percent of the gross domestic product and up from this year's shortfall of 11 trillion won. The government will issue a total of 19.7 trillion won in treasuries to make up for the expected fiscal deficit next year, the finance ministry said. The government plans to beef up its spending on social infrastructure and small- and mid-sized firms next year amid growing fears Asia's fourth-largest economy may slip into a recession for the first time since the 1997-98 Asian financial crisis. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business 2 Volkswagen plants to suspend production in ChinaAP - 21 minutes ago S.Korea sets 10.6 pct rise in 2009 total spendingReuters - 29 minutes ago China to step up bank lending in 2009 amid crisis: governmentAFP - 33 minutes ago China to increase supply of money to boost economyAP - 2 hours 18 minutes ago 'Decoupling' turns to myth as India growth story stumblesAFP - 2 hours 44 minutes ago Most Popular – Business Viewed US carmakers mull options as White House vows aid Actress Jennifer Aniston appears naked in GQ magazine Russia crowned Miss World 2008 in African event Rich and powerful top Madoff's fraud victims: report Fortis bank, saved from collapse, again on shaky ground View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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