Analysis of the FY 2014 Budget by Category II
The
has been published in order to effectively support the review of the FY 2014 Budget in the six categories of social overhead capital(SOC); agriculture, fisheries and food; national defense; foreign relations and reunification; public order and safety; general and local government administration and is summarized as follows.
In the category of , for which a 23.2621 trillion Won has been earmarked, the report reviews whether the scale of investment in SOC is appropriate, with regards to the need to improve the implementation and efficiency of investments in roads, railways, shipping infrastructure and harbors, and on issues concerning the construction of cities centered around government administration complexes and the timely completion of the Saemangeum Project.
For projects that fall under the category of
he budget appropriated for projects under the category in FY 2014 amounts up to 34.8472 trillion Won, in total. Of the projects, at the report particularly focuses on fiscal issues arising from an increase in labor and equipment maintenance costs, the need to make national defense-related projects more efficient and effective, and the need to increase the rate of return for investments made in defense-related R&D.
Meanwhile, a total of 4.2 trillion Won has been set aside for projects in FY 2014. Issues of consideration include the ensuring of robustness with regards to ODA projects as they expand; whether or not to establish a comprehensive body for foreign relations projects in the public sector, as well as the need to improve projects that support the relocation and settlement of refugees from North Korea were analyzed.
In the category of , projects to increase the police force and reinforce the police authority’s readiness to address public safety concerns, ways to protect and support crime victims, as well as the issue of improving the efficacy of natural disaster prevention programs were analyzed. The total amount of budget set aside for this category in FY 2014 was 15.7195 trillion Won.
The category of has been allocated an annual budget of 58.6614 trillion Won. Among the projects into which these funds will be funneled, the report specifically looked at projects to secure fiscal stability in local governments, issues to consider with regards to the national government’s promotion of its so-called “Version 3.0 Project,” and measures taken by local governments to address a decrease in national tax revenue.
