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South Korea to raise 2016 fiscal budget

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9 years ago

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Seoul: South Korea plans to raise its 2016 fiscal budget by 3 percent compared with this year, bolstering worries about rising fiscal debts, a government report showed.

Government budget for 2016 would increase to 386.7 trillion won ($320.6 billion) from 375.4 trillion won for 2015, according to the Ministry of Strategy and Finance.

Given the supplementary budget added in the second half of this year to boost the economy, the actual growth rate of the fiscal budget was 5.5 percent, not 3 percent.

The 2016 fiscal budget plan, which was endorsed during the cabinet meeting on Tuesday, would be submitted to the National Assembly by the end of this week, as per reported.

The ratio of sovereign debts to gross domestic product (GDP) was estimated by the finance ministry to increase to 40.1 percent in 2016, topping 40 percent for the first time in the country’s history. It was forecast to advance to 41.1 percent in 2018 before falling to 40.5 percent in 2019.

Despite concerns about sovereign debts, fiscal soundness could be maintained after reinvigorating the economy, Finance Minister Choi Kyung-hwan said, asking for the understanding of temporary increase in the debts.

The 2016 welfare budget, including health care and labour, amounted to 122.9 trillion won, up 6.2 percent from a year earlier. The figure accounted for 31.8 percent of the total budget, marking the highest in history.

The budget for national defence rose 4 percent from a year earlier to 39 trillion won in 2016, with 4.7 trillion won set aside for foreign affairs and unification in 2016, up 3.9 percent compared with 2015.

The ministry expected the South Korean economy to grow 3.3 percent next year, a downward revision from 3.5 percent estimated three months earlier.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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