NABO Fiscal Trends and Issues (2019 Vol. 3)
Published on 5 September 2019
Published by Social Budget Analysis Division of the Budget Analysis Department
I. Key Fiscal Indicators
The progress rates for total revenues and total expenditures up to June 2019 are 51.7% and 60.6%, respectively. In addition, the consolidated central government balance (in the form of a 38.5 trillion won deficit) increased by 35.0 trillion won, YoY, up to June 2019, and central government debts (686.9 trillion won) increased by 2.7 trillion won, MoM, due to reasons such as the increased reserves of foreign exchange stabilization bonds and national housing bonds.
Ⅱ. Major Fiscal Issues
As for major fiscal issues, introductions are provided of the main content of the 2020 budget plan; the outcomes of the first National Assembly examination of supplementary budgets in 2019; major indicator trends in the area of public health and welfare; measures to pursue the National Employment Support Scheme; measures to support university reform; status of measures to strengthen the competitiveness of materials, parts and equipment; main details of the 2020 Budget (Plans) for National Research and Development Projects; as well as the announcement of the Comprehensive Measures for Safety Reinforcements related to Sustainable Infrastructure Facilities.
Ⅲ. Overseas Fiscal Trends
Overseas fiscal trends and issues are introduced, including the status of social expenditures in other OECD countries and the publication of the IMF Fiscal Monitor.