2012 Budget Bill has been submitted to the National Assembly on October 1. According to the bill, Korea’s gross income is 344.1 trillion won and gross expenditure is 326.1 trillion won, each of which jumped to 9.5 percent and 5.5 percent from a year earlier. The gross expenditure growth rate has been calculated less 4 percent point than the gross income growth rate, because the government plan to achieve a fiscal balance in 2013, that is, restoring the fiscal soundness from the previous years’ excessive budget appropriations for stimulating the domestic economy.
The National Assembly Budget Office (NABO) assists the National Assembly to embrace variety of financial demands of people and improve the fiscal responsibility. As part of these efforts, NABO has analyzed the budget bills each year. This year, NABO publishes 11 volumes regarding the budget bill analysis for FY 2012. With the aim of efficiently assisting National Assembly’s Budget deliberation especially for this year, NABO analyzed 527 programs under each department, 4.2 times more than the last year. The subject matters for in-depth analysis reached 33, an increase of 2.2 times from the last year. “Budget Bill Analysis for FY 2012” series include all kinds of the budgetary issues as well as major programs. Details are as follows:
1. Budget Bill Analysis on the Basis of Each Line Ministries (Series 1–5), is made up of five volumes and categorized by each standing committee in charge, by showing in-depth research for each program.
2. Comprehensive Outlook of Budget Bill (Series 6) explains current fiscal status and the main features of 2012 budget bill.
3. Emphatic Analysis of Budget Bill (Series 7–9) consisting of three volumes, focuses on the analysis of the pending issues with regard to 2012 budget bill.
4. Analysis of Gender Sensitive Budget Bill (Series 10) demonstrates how gender budget statement reflects gender equality and effort to improve gender issue on individual budget program.
5. Summary of Budget Bill Analysis (Series 11) abstracts the previous reports (Series 1–9) and suggests the expenditure adjustment.
Budget Analysis Office
The National Assembly Budget Office (NABO) assists the National Assembly to embrace variety of financial demands of people and improve the fiscal responsibility. As part of these efforts, NABO has analyzed the budget bills each year. This year, NABO publishes 11 volumes regarding the budget bill analysis for FY 2012. With the aim of efficiently assisting National Assembly’s Budget deliberation especially for this year, NABO analyzed 527 programs under each department, 4.2 times more than the last year. The subject matters for in-depth analysis reached 33, an increase of 2.2 times from the last year. “Budget Bill Analysis for FY 2012” series include all kinds of the budgetary issues as well as major programs. Details are as follows:
1. Budget Bill Analysis on the Basis of Each Line Ministries (Series 1–5), is made up of five volumes and categorized by each standing committee in charge, by showing in-depth research for each program.
2. Comprehensive Outlook of Budget Bill (Series 6) explains current fiscal status and the main features of 2012 budget bill.
3. Emphatic Analysis of Budget Bill (Series 7–9) consisting of three volumes, focuses on the analysis of the pending issues with regard to 2012 budget bill.
4. Analysis of Gender Sensitive Budget Bill (Series 10) demonstrates how gender budget statement reflects gender equality and effort to improve gender issue on individual budget program.
5. Summary of Budget Bill Analysis (Series 11) abstracts the previous reports (Series 1–9) and suggests the expenditure adjustment.
Budget Analysis Office