An additional supplementary budget of 14 trillion won to support small businesses that have been hit by COVID-19 is scheduled to be decided at the cabinet meeting next week.
This supplementary budget plan includes additional payment of 3 million won in quarantine subsidies to small businesses with reduced sales, and an increase in the amount of funds to compensate small businesses from 3.2 trillion won to 5.1 trillion won.
For the supplementary budget, it was decided to utilize the excess tax revenue of 10 trillion won last year.
However, since it is a fund that cannot be used before the government's fiscal year-end settlement last year, we plan to cover most of it by issuing deficit government bonds right now.
The government is due to submit this supplementary budget to the National Assembly in the last week of this month.
(Photo = Yonhap News)