North Korea plans over 5% budget increase, largest rise in years

North Korea has said it will increase its state budget by more than 5 percent this year, in what appears to be a move to expand spending on both economic development and defense. The Rodong Sinmun, the ruling party’s official newspaper, reported Tuesday on the outcome of the 15th Supreme People’s Assembly, saying the country had decided to raise this year’s state expenditures to 105.8 percent of last year’s level. The exact size of the budget was not disclosed. North Korea has not released the t

By The Korea Herald