This paper is intended as an investigation of 'The National Debt Management Plan'. Attached to the annual budget bill, 'The National Debt Management Plan' presents the end of the year condition and the projection of national debt. It also serves as debt management device including the objective(target) and level of management, risk management.
Accordingly, the analysis report covers the current situation and the trends of national debt, which is mainly comprised of the analysis of debt-increasing factors and fiscal sustainability. It offers the key to appraise overall 'The National Debt Management Plan' and propose several improvements. There are incessant controversies on the coverage and the size of national debt. So the government should newly define the general government sector and the public sector according to an international standard(e.g. GFSM 2001). It enables us to reassess gross(or net) national debt(or liabilities) and put an end to consuming controversies. Furthermore, it is necessary to check and report to the National Assembly the 'fiscal risk' including contingent liabilities in order to take pre-emptive measures to maintain the long-term fiscal soundness.
Accordingly, the analysis report covers the current situation and the trends of national debt, which is mainly comprised of the analysis of debt-increasing factors and fiscal sustainability. It offers the key to appraise overall 'The National Debt Management Plan' and propose several improvements. There are incessant controversies on the coverage and the size of national debt. So the government should newly define the general government sector and the public sector according to an international standard(e.g. GFSM 2001). It enables us to reassess gross(or net) national debt(or liabilities) and put an end to consuming controversies. Furthermore, it is necessary to check and report to the National Assembly the 'fiscal risk' including contingent liabilities in order to take pre-emptive measures to maintain the long-term fiscal soundness.