The government will make every effort to prepare for the swift execution of next year's budget to help stabilize people's livelihoods and respond to external uncertainties, the finance ministry said Tuesday.

The ministry issued the statement shortly after the National Assembly passed next year's national budget of 673.3 trillion won ($471.5 billion), following a 4.1 trillion-won cut by the main opposition Democratic Party.

"The government will make every effort to prepare for the budget's execution for the stabilization of people's livelihoods and to respond to external uncertainties, and execute it as swiftly as possible once the new fiscal year begins," it said.