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NABO in the Press

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BOK faces challenges as new governor starts term
MK뉴스 - April 2, 2014
Raising the accuracy of BOK’s economic forecasts, which in the past several years have shown a large margin of error, is also an important task, given that they are the base for the BOK’s monetary policy. According to a report unveiled during the inspection of government agencies last year, BOK’s economic projections for 2011 and 2012 were off by a larger margin compared to other institutions. Regarding 2011 economic growth forecast, National Assembly Budget Office was off by 0.2 percent points and Samsung Economic Research Institute by 0.1 percent point while BOK was off by 0.8 percent points.
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Gloomy fiscal reality
The Korea Times - February 11, 2014
Most worrisome is that the revenue-generating effect of economic growth has been waning significantly. According to the National Assembly Budget Office, a 1-percent growth in GDP triggered an increase of 0.8-0.9 percent in national tax revenue in the past, but the gain fell to 0.72 percent recently.
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Corporate investment key to economic revival
The Korea Herald - January 12, 2014
The negative growth followed a steep downward growth curve since the 1997-98 Asian financial crisis. According to a report released by the National Assembly Budget Office, facility investment grew by 14 percent a year on average in the 1980s and 1990s. But in the 2000s, it plummeted to 3 percent.
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S. Korea’s debt grows at alarming level
mK경제 - January 5, 2014
An estimate based on the 2014 budget puts the government’s debt at 514.8 trillion won ($487.9), up 50.1 trillion won from the previous year, according to the Ministry of Strategy and Finance and National Assembly Budget Office Sunday.
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Flawed budget review
The Korea Times - December 23, 2013
In May, the Park Geun-hye administration promised to restructure fiscal expenses worth 84 trillion won to finance funds for welfare projects without raising taxes and reflect these changes in its 2014 budget proposal. But the National Assembly Budget Office says the bill allotted too much money for unnecessary new projects and similar and duplicate ones.
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