South Korean Parliament Approves $ 10 Billion Budget to Help Population amid Pandemic
The allocated budget as a result turned out to be larger than at the project stage ($ 6.3 billion), since it was decided to allocate material assistance to all households in the country, and not just the least protected sectors of society.
The possibility of providing support and wealthy households has sparked wide discussion between supporters of the ruling camp and the opposition. Among the obstacles to the provision of assistance to all citizens were called possible financial difficulties in controlling expenditures from the state treasury, which could arise subsequently. However, the ruling Toburo Democratic Party in the country was able to agree on the need for this step with the Ministry of Planning and Finance of South Korea. At the same time, the government provides wealthy citizens with the right to donate the benefits received to the emergency financial assistance fund for those most in need.
Earlier in March, the country's parliament approved the allocation of the first budget of 11.7 trillion won ($ 9.5 billion) to combat the effects of the pandemic.