S. Korea’s Pres. Moon: May consider supplementary budget to combat coronavirus impact
|South Korean President Moon Jae-in said on Monday, his government is considering deploying a supplementary budget to counter the negative economic impact of the coronavirus outbreak.
In a meeting with chief aides and medical experts, “in addition to swiftly deploying the emergency fund set aside, (the government) should review drafting up of a supplementary budget after coordinating it with the parliament."
This comes after South Korea's Centers for Disease and Control and Prevention (KCDC) reported 161 more confirmed virus cases on Monday, bringing the total to 763, as cited by Yonhap.
KRW renews six-month lows
The South Korean won (KRW) extended its steady decline vs. the greenback and refreshed a six-month low at 1,220.65 in the last minutes.
At the press time, USD/KRW trades at 1,219.75, up 1.10% on the day.
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