MoEF Publishes Budget Overview Booklet Covering Korean New Deal and Fiscal Conditions

[Sejong=Asia Economy Reporter Kim Hyunjung] The Budget Office of the Ministry of Economy and Finance announced on the 9th that it has published the booklet "2021 National Budget Overview." This booklet contains detailed explanations of the national budget management for this year based on the 2021 budget confirmed by the National Assembly last year, and was directly written by the practical staff of the Budget Office.

The booklet is composed of three parts: ▲the 2021 budget proposal president's policy speech and the Deputy Prime Minister and Minister of Economy and Finance's explanatory proposal ▲2021 national budget ▲2021 budget and fund operation plans. Part 1 explains the government's determination to focus on rapid and strong economic recovery to overcome the COVID-19 crisis, promotion of the Korean New Deal, bold investment in future growth engines, expansion of employment and social safety nets, safe lives for the people and robust national defense, and peace.

Part 2 provides detailed explanations of the overall fiscal management conditions and scale, directions of fiscal management, and investment plans by sector. Chapter 1 comprehensively explains the 2021 national budget including fiscal management conditions, revenue and expenditure scale, fiscal balance, and national debt. Chapter 2 details the key tasks such as ▲full-scale promotion of the Korean New Deal ▲rapid and strong economic recovery ▲securing future growth engines ▲strengthening inclusive employment and social safety nets ▲enhancing public safety and quality of life. Chapter 3 explains the directions of fiscal support and major support contents for each sector through detailed investment plans by sector.

Finally, Part 3 provides systematic "statistical information" on overall finances including revenues and expenditures of general and special accounts and income and expenditures of funds.

The "2021 National Budget Overview" can be viewed on the Ministry of Economy and Finance website from the 9th and will be distributed to local governments, education offices, and other public institutions next week.

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