Gov't to front-load 2009 infrastructure budget in H1

SEOUL, Dec. 22 (Yonhap) -- The government said Monday that it will front-load
more than 60 percent of its 2009 infrastructure budget in the first half as part
of efforts to stimulate slumping domestic demand and create more jobs.

In a policy report to President Lee Myung-bak, the Ministry of Land, Transport
and Maritime Affairs said it plans to spend 65 percent of the 23.4 trillion won
(US$18.2 billion) earmarked for 2009 infrastructure projects in the January-June
period.
The percentage compares with 47 percent of the infrastructure budget spent during
the same period of this year. Next year's total infrastructure budget represents
a 24.5 percent increase from that of this year.
The budget front-loading is in line with the government's drive to create jobs in
the face of slumping domestic consumption and growing concerns over a global
economic slowdown.
The nation's jobless rate stood at 3.1 percent in November with job creation
falling to a 5-year low amid a bleak economic outlook.
The ministry said that it will spend 60 percent and 67 percent of its annual
budgets to build roads and railways, respectively, during the first half of next
year.
For 2009, the ministry's total budget amounts to 25.7 trillion won.
kokobj@yna.co.kr
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