This report is a summary of the 2013 First Revised Budget Plan Analysis published on April 23, 2013. A custom-tailored report that addresses key issues of interest for the main users, it suggests adjustment to key programs where problems were identified in terms of timely execution of budget before the end of the year, program completion within 2013, and the legal basis in support of an efficient review of the revised budget plan.
In Part I, an aggregate analysis is made to assess the need for a revised supplementary budget, its economic effects, the appropriateness of the revised revenue, and fiscal soundness.
In Part II, an overview is given of some major issues identified in the five key categories--job creation, livelihood stabilization, SME and export business assistance, financial economic revitalization, and national financial support for regions. For some key programs, we sought to determine whether their expected effects are in line with their stated objectives such as feasibility before the end of the year and their effects toward bolstering the economy.
In Part III, key programs of 23 ministries are analyzed and their feasibility assessed in depth. We found that there is a need to compensate for the full amount of the decline in local tax revenue due to an exemption of the acquisition tax by the Ministry of Strategy and Finance; the revised supplementary budget for the e-government programs of the Ministry of Security and Public Administration is conditional on a revision of the relevant act; the National Emergency Management Agency inappropriately presented an aggregate budgetary amount for its disaster prevention program; and the Golden Seed Project of the Ministry of Agriculture, Food and Rural Affairs, Ministry of Oceans and Fisheries, and Rural Development Administration has issues of project delay and does not yet have a detailed plan for research; and there is a need for the Ministry of Land, Infrastructure and Transport to adjust its road construction budget in consideration of the projects expected to be completed early and other high-priority projects.
In Part IV, a recommendation is given to adjust the budgets of certain programs, for a total reduction of 96.24 billion won for 18 programs.
Budget Analysis Office
In Part I, an aggregate analysis is made to assess the need for a revised supplementary budget, its economic effects, the appropriateness of the revised revenue, and fiscal soundness.
In Part II, an overview is given of some major issues identified in the five key categories--job creation, livelihood stabilization, SME and export business assistance, financial economic revitalization, and national financial support for regions. For some key programs, we sought to determine whether their expected effects are in line with their stated objectives such as feasibility before the end of the year and their effects toward bolstering the economy.
In Part III, key programs of 23 ministries are analyzed and their feasibility assessed in depth. We found that there is a need to compensate for the full amount of the decline in local tax revenue due to an exemption of the acquisition tax by the Ministry of Strategy and Finance; the revised supplementary budget for the e-government programs of the Ministry of Security and Public Administration is conditional on a revision of the relevant act; the National Emergency Management Agency inappropriately presented an aggregate budgetary amount for its disaster prevention program; and the Golden Seed Project of the Ministry of Agriculture, Food and Rural Affairs, Ministry of Oceans and Fisheries, and Rural Development Administration has issues of project delay and does not yet have a detailed plan for research; and there is a need for the Ministry of Land, Infrastructure and Transport to adjust its road construction budget in consideration of the projects expected to be completed early and other high-priority projects.
In Part IV, a recommendation is given to adjust the budgets of certain programs, for a total reduction of 96.24 billion won for 18 programs.
Budget Analysis Office