The two-volume FY 2013 Final Accounts Analysis by Area is a report to support the National Assembly with its macro review of the government’s final accounts. It analyzes major issues in 12 areas of the public fiscal management planning and proposes next steps concerning fiscal management.
Recognizing its importance, the National Assembly has stepped up its macro review of the government’s final accounts, including top-down and area-specific review. In order to facilitate the top-down review, the National Assembly Budget Office publishes the Final Accounts Analysis by Area in which it identifies fiscal trend and performance, analyzes key sectors, and proposes next steps concerning fiscal management for twelve areas including welfare, education, R&D, industry, SMEs, energy, and SOC.
FY 2013 Final Accounts Analysis by Area: Volume I contains the findings of analysis of six areas: health, welfare, and employment; education; culture, sports, and tourism; environment; R&D; and industry, SMEs, and energy.
In health, welfare, and employment, in 2013, the budget spending stood at KRW 98.5647 trillion, representing compound annual growth of 7.5% over the past seven years. The report suggested that a Korean-style welfare model needs to be devised in consideration of fiscal requirements for the aging of Korean society. The budget spending on education in 2013 was KRW 48.4649 trillion. The report addressed issues including the appropriateness of the level of education subsidies for local areas, support for university scholarships, and the granting of student loans.
The budget spending on culture, sports, and tourism in 2013 totaled KRW 4.9671 trillion, and the report analyzed major financial projects in these fields. Spending for the environment totaled KRW 6.0840 trillion. The report cited the need to change the fiscal allocation approach in order to ensure active response to new environmental issues and improve preventive environmental management.
The 2013 R&D budget spending was KRW 16.8644 trillion. The report addressed the appropriate level of R&D spending and analyzed the separate roles of the government and the private sector. The budget spending for industry, SMEs, and energy was KRW 16.3660 trillion, and the report analyzed matters including the actual subsidies for SMEs and small businesses that are included in the industrial fiscal support program and the industrial promotion and advancement program, and SMEs' export and investment attraction performance.
Recognizing its importance, the National Assembly has stepped up its macro review of the government’s final accounts, including top-down and area-specific review. In order to facilitate the top-down review, the National Assembly Budget Office publishes the Final Accounts Analysis by Area in which it identifies fiscal trend and performance, analyzes key sectors, and proposes next steps concerning fiscal management for twelve areas including welfare, education, R&D, industry, SMEs, energy, and SOC.
FY 2013 Final Accounts Analysis by Area: Volume I contains the findings of analysis of six areas: health, welfare, and employment; education; culture, sports, and tourism; environment; R&D; and industry, SMEs, and energy.
In health, welfare, and employment, in 2013, the budget spending stood at KRW 98.5647 trillion, representing compound annual growth of 7.5% over the past seven years. The report suggested that a Korean-style welfare model needs to be devised in consideration of fiscal requirements for the aging of Korean society. The budget spending on education in 2013 was KRW 48.4649 trillion. The report addressed issues including the appropriateness of the level of education subsidies for local areas, support for university scholarships, and the granting of student loans.
The budget spending on culture, sports, and tourism in 2013 totaled KRW 4.9671 trillion, and the report analyzed major financial projects in these fields. Spending for the environment totaled KRW 6.0840 trillion. The report cited the need to change the fiscal allocation approach in order to ensure active response to new environmental issues and improve preventive environmental management.
The 2013 R&D budget spending was KRW 16.8644 trillion. The report addressed the appropriate level of R&D spending and analyzed the separate roles of the government and the private sector. The budget spending for industry, SMEs, and energy was KRW 16.3660 trillion, and the report analyzed matters including the actual subsidies for SMEs and small businesses that are included in the industrial fiscal support program and the industrial promotion and advancement program, and SMEs' export and investment attraction performance.