The National Assembly Budget Office has annually published National Finance of Korea to improve the public’s understanding of the national finance system and provide related data for legislative activities. The 2013 publication contains the latest and most accurate information on the nation’s finance, reflecting changes in government ministries and agencies and standing committees of the National Assembly following the inauguration of the new administration, as well as the revised budget that the National Assembly passed last May.
The main source of funding for the nation’s fiscal activities is taxes paid by the public. However, the complexity of the nation’s finance makes it difficult for the public to grasp the depths of national finance. Thus, one of the main purposes of this publication is to help the public better access and understand this issue.
This publication is largely an analysis of the budget as it presents the details of the 2013 budget bill review by the National Assembly and analyses of major programs by area. The result of examination by standing committees and the Special Committee on Budget and Accounts allows for traceability in outlays, and key government finance statistics are offered in an appendix, providing readers useful information to understand the nation’s finance at a glance.
This book is organized in three parts with 24 chapters, and an Appendix. Part I gives an overview of the government’s finance system, including information on the accrual basis, double entry accounting, tax expenditure budget, and private investments. Part II provides details of the financial conditions in 2013, revenues and expenditures, government debt, and other macroeconomic statistics, as well as details of the budget bill review by the National Assembly. Part III presents key financial information and characteristics pertaining to the 16 standing committees, as well as an overview and issues of some nationally-funded programs by ministry for direct use by the National Assembly in reviewing the budget and final accounts. In the Appendix, we provide various economic and fiscal aggregate indicators, as well as financial statistics by area and by ministry, in the form of tables and graphs for ease of reference.
Budget Analysis Office
The main source of funding for the nation’s fiscal activities is taxes paid by the public. However, the complexity of the nation’s finance makes it difficult for the public to grasp the depths of national finance. Thus, one of the main purposes of this publication is to help the public better access and understand this issue.
This publication is largely an analysis of the budget as it presents the details of the 2013 budget bill review by the National Assembly and analyses of major programs by area. The result of examination by standing committees and the Special Committee on Budget and Accounts allows for traceability in outlays, and key government finance statistics are offered in an appendix, providing readers useful information to understand the nation’s finance at a glance.
This book is organized in three parts with 24 chapters, and an Appendix. Part I gives an overview of the government’s finance system, including information on the accrual basis, double entry accounting, tax expenditure budget, and private investments. Part II provides details of the financial conditions in 2013, revenues and expenditures, government debt, and other macroeconomic statistics, as well as details of the budget bill review by the National Assembly. Part III presents key financial information and characteristics pertaining to the 16 standing committees, as well as an overview and issues of some nationally-funded programs by ministry for direct use by the National Assembly in reviewing the budget and final accounts. In the Appendix, we provide various economic and fiscal aggregate indicators, as well as financial statistics by area and by ministry, in the form of tables and graphs for ease of reference.
Budget Analysis Office