Strategy for Creating New Engines for Economic Growth: Budget and Legislative Issues

  • 2009-10-20
  • 354
  On January 2009, the government announced the strategy for creating new engines for economic growth. This paper is intended to examine the strategy and to offer suggestions and alternatives for improvements in terms of relevant laws and mechanisms including the budget:
- In case of the budget bill, investment to this strategy will be increased by 22.5% in 2010 compared to 2009.
- The government's effort to modify the laws and rules are insufficient. There are thirty five legislative issues that need to be revised or modified, but only seventeen laws have been under consideration for revision or enactment by the relevant ministries.
- New government set-ups for carrying out these tasks need to be set to replace the existing forms of task forces and also to establish an assessment system.