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S. Korea's Fiscal Support for Public Sector Grows Sharply in 2012: Data
Source: english.yonhapnews.co.kr
Source Date: Friday, June 21, 2013
Focus: ICT for MDGs
Country: Korea (Republic of)
Created: Jun 25, 2013

South Korea's fiscal support for the country's public sector organizations grew 17 percent on-year in 2012, data showed Friday.


According to the data available at public information portal Alio, the government provided 43.55 trillion won (US$37.74 billion) worth of fiscal support to public agencies last year, compared with 37.22 trillion won a year earlier.


The growth was faster than the pace at which the combined revenue of public agencies increased over the same period. Their total revenue gained 9.7 percent on-year to 541.5 trillion won, the data showed.


The fiscal support refers to the help that the government offers by tapping into its budget and other funds.


The hike comes as those agencies have been in need of more money to carry out diverse public projects affecting a broad range of people that could include job creation and construction of more affordable houses.


The additional government fiscal support also means that the role that the public sector plays in providing key services to people is expanding, experts said.

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