Photo : Ministry of Planning and Budget / Yonhap
Roughly four out of ten government-funded projects subject to performance evaluation have been added to a list for expenditure restructuring.
The Ministry of Planning and Budget announced on Monday that of all two-thousand-487 government-funded projects, 901, or some 36-point-two percent, were included on the list.
It’s the highest percentage ever posted.
Funds will be cut back for 858 of the projects, while three other projects will be scrapped and the remaining 40 will be integrated.
The latest restructuring is expected to result in budget cuts of up to seven-point-seven trillion won.