주간 한국경제 S. Koreas 2013 tax revenue shortfall expected to reach 8 tln won South Korea collected 8 trillion won(US$7.5 billion) less in tax revenue than its earlier forecast for last year, raising concerns that there may not be sufficient funds to meet expanded welfare programs, government sources said. The government earlier expected to collect 210.4 trillion won last year, revised down from 216.4 trillion won it forecast when preparing the budget for 2013. Based on the forecast, the government is likely to have collected about 202 trillion won(Jan. 20, 2014, Yonhap). Investment, deregulation key to S. Korea joining $40,000 GDP club Bolstering business investment and deregulation are critical for South Korea to join the ranks of countries whose per capita GDP exceeds US$40,000, a report by the lobby group for the countrys largest conglomerates said. The assessment by the Federation of Korean Industries(FKI) based on data provided by the International Monetary Fund(IMF) claimed that the 22 countries that have made the “exclusive club” all had higher growth and employment rates and more developed service sectors compared to South Korea after their per capita hit the $20,000 mark(Jan. 19, 2014, Yonhap).
Posted on: Tue, 21 Jan 2014 00:48:02 +0000
Trending Topics
Recently Viewed Topics
© 2015