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S Korean gov't spends $110 bln on state-run projects in 2010

06-24-2010 16:26 BJT

SEOUL, June 24 (Xinhua) -- South Korea's 2010 spending on state- managed projects amounted to 131.2 trillion won, or 110.4 billion U.S. dollars, as of end-May, 101.3 percent of its original plan, the country's finance ministry said Thursday.

According to the Ministry of Strategy and Finance, the amount exceeded the ministry's target of 129.5 trillion won (110 billion U.S. dollars) planned for the first five months of 2010 as the ministry has been seeking to front-load its budget this year.

For 2010, the government planned to spend 271.2 trillion won ( 228.3 billion U.S. dollars) on the state projects, of which 60 percent was allocated to be executed during the first half.

"After accomplishing the goal of front-loading in the first half, we will aggressively seek for boosting effectiveness in fiscal spending in the second half," an official at the ministry was quoted as saying.

 

Editor:Du Xiaodan |Source: Xinhua

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