Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance

• Tác giả: Young Kyu Kang
• Ngôn ngữ: eng
• Ký hiệu phân loại: 351.72 Public administration
• Thông tin xuất bản: World Bank Group, Washington, DC, 2015
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 304466
• Chủ đề: 1. ACCURATE ASSESSMENT; 2. ANNUAL BUDGET; 3. ANNUAL BUDGET CYCLE; 4. ANNUAL ESTIMATES; 5. ANNUAL EXPENDITURES

Tóm tắt

Korea's bold initiative, the Green Growth Plan (GGP), spanning 2009 to 2013 with fiscal outlay of US4 billion, posed a significant challenge to sustainable public finance management in Korea. This paper reviews how Korea accommodated the huge cross-cutting expenditure plan in its annual and medium term budgets. Notably Korea s medium term expenditure framework, the National Fiscal Management Plan, enabled the Ministry of Strategy and Finance s Budget Office to integrate the GGP into the budget and maintain fiscal balance. However, the paper also notes that Korea s experience suggests international standards on budget classification to be updated to accommodate government-wide initiative.