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NABO Briefing

Title Vol. 98 Scorekeeping of the Bills Approved in 2019 (English edition)

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In 2019, 565 bills were passed during the National Assembly's plenary session, among which 182 were budget-related. As a result of scorekeeping 101 laws subject to budget estimation, it is expected that the annual average revenue of KRW 2,520.7 billion will decrease from 2020 to 2024 due to the enforcement of 16 revenue-related laws. Expenditure of KRW 3670.8 billion is expected to increase with the enactment of 85 expenditure-related laws.

The analysis of the legislation with fiscal requirements reveals a decrease in the revenue generated in 2020 by KRW 174.2 billion with the enactment of the 16 revenue-related legislation. A total of KRW 3130.5 billion (KRW 274.7 billion in 2019, KRW 2,855.9 billion in 2020) was allocated in the budget according to 66 expenditure-related laws.

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