S Korea plans budget boost to bolster growth

South Korea's government Monday announced plans to increase budget spending by 2.5 percent next year to bolster the economic recovery and improve the lives of ordinary people.
Next year's budget will focus on "stabilising public livelihood and developing growth potential", the Ministry of Strategy and Finance said in a statement.
The budget, including spending by state funds, will amount to 291.8 trillion won (246 billion dollars) compared to this year's 284.5 trillion.
But the planned spending will be smaller than 2009's total expenditure of 301.8 trillion won -- which includes a supplementary budget in April aimed at helping the nation ride out the global economic crisis.
The plan will be presented to parliament this week for approval.
"The increased budget will be focused on revitalising the economy, helping to fuel future investments, stabilising the lives of ordinary people and creating more jobs," the ministry said after the cabinet endorsed it.