South Korea's budget covering the year ending on Dec. 31 has set tax and non-tax revenue rising by 0.1% to 425.4 trillion won ($328.4 billion), while income from public funds is set to grow 8.8% to 200.3 trillion won. ($1 = 1,295.3700 won) (Reporting by Choonsik Yoo; Editing by Sonali Paul)
SEOUL, March 28 (Reuters) - South Korea's finance
ministry said on Tuesday there was a strong downward risk to the
government's budget revenue projection this year mainly from a
slowing economy, both at home and abroad.
"There is a strong downward risk from factors including a
slowdown in corporate earnings and asset transactions, while
there is also a high uncertainty ahead on the economic and asset
price outlook," the ministry said in a statement.
There was no indication of any imminent plan to revise this
year's budget from the statement, which was issued mainly to
emphasise the sound management of the budget.
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