July 3, 2020 / 1:57 PM / a month ago

S.Korea's parliament approves third extra budget, of 35.1 trln won

SEOUL, July 3 (Reuters) - South Korea’s parliament on Friday approved a supplementary budget of 35.1 trillion won ($29.3 billion) to fight the economic fallout from the coronavirus pandemic.

The passage of the third supplementary budget this year will raise the government debt to 43.5% of gross national product from 41.4%, the finance ministry said in a statement.

Total fiscal spending to fight the pandemic amounts to about 277 trillion won, according to the ministry. ($1 = 1,199.0300 won) (Reporting by Cynthia Kim; Editing by Kevin Liffey)

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