2019 Budget Proposal Analysis Series
Published in October 2018
Published by Budget Analysis Department
On September 3rd, the Korean government submitted to the National Assembly its 2019 budget proposal of 481.3 trillion Korean won in total revenues and 470.5 trillion Korean won in total expenditures. In order to address outstanding issues such as revitalizing the economy, creating new job growth and improving income distribution, the government increased its total expenditure budget by 41.7 trillion won (9.7%) from the previous year’s budget. Such expansionary fiscal policies are expected to be maintained for some time.
Therefore, during this year’s budget proposal deliberation process, the National Assembly will need to examine the feasibility and efficiency of the fiscal programs developed to address outstanding social and economic challenges while at the same time conduct an in-depth examination of the sustainability of fiscal soundness.
NABO has published the 2019 Budget Proposal Analysis Series in order to support such efforts. This 2019 Budget Proposal Analysis Series is composed of General Analyses, Committee-Specific Analyses, Analyses of Public Institution Budget Proposals and Analyses of Notes on Gender-Sensitive Budgets.
General Analyses provides an overall fiscal analysis with a status report focusing on national debt, fiscal balance and mandatory expenditures, while examining key policy initiatives such as innovative growth and job creation.
Committee-Specific Analyses are conducted to individually examine the effectiveness of major budget increases or outstanding programs at each Ministry, deduce challenges and propose recommendations for improvement.
Analyses of Public Institution Budget Proposals examines agency-specific budget proposals created to support public institutions through various forms such as subsidies and contributions. In Analyses of Notes on Gender-Sensitive Budgets, in-depth analyses of gender-sensitive programs are provided to further facilitate the deliberation procedure at the National Assembly.