Deliberation Results of the 2024 Budget Bill

Published on Jan., 12, 2024
Published by Budget Analysis Coordination Division

   The 2024 budget bill, fund management plan, and Build-Transfer-Lease (BTL) cap, submitted to the National Assembly on September 1, 2023, were automatically brought before the plenary session and resolved on December 21 without a comprehensive review by the Special Committee on Budget and Accounts by its November 30 deadline. The total expenditures of the 2024 budget were ultimately set at 656.6 trillion won, reflecting a decrease of 233.2 billion won from the initially proposed government bill of 656.9 trillion won. This adjustment occurred during the National Assembly deliberation process, with 4.7 trillion won being cut, and an additional 4.5 trillion won being added.
   To promote a productive review of budgets and settlement of accounts and improve public understanding of the contents of the budget bill deliberated on and finalized by the National Assembly, an extensive assessment of the 2024 budget bill discussion process and its results will need to be made. In line with this, the National Assembly Budget Office has published the "Results of the 2024 Budget Bill Deliberation" to offer an integrated and systematic summary of the 2024 budget bill deliberation process and its outcomes.
   This report provides an overview of the main contents of the finalized 2024 budget, the deliberation progress and results of the 2024 budget bill, and presents significant cases of budget reductions or additions for projects, categorized by type. This includes projects with substantial budget increases or decreases as a result of deliberation by the National Assembly, projects where the preliminary review results of the Standing Committee differ from those of the plenary session, and projects that were newly incorporated into the National Assembly deliberation process. Furthermore, the report is structured by standing committee, central administration agency, and detailed project, enabling a side-by-side comparison of the results of the preliminary reviewof the 2024 budget bill by the standing committee and the deliberation outcomes by the plenary session.