Korea - Subsidies and other transfers (% of expense)

Subsidies and other transfers (% of expense) in Korea was 69.10 as of 2019. Its highest value over the past 32 years was 69.10 in 2019, while its lowest value was 2.46 in 1987.

Definition: Subsidies, grants, and other social benefits include all unrequited, nonrepayable transfers on current account to private and public enterprises; grants to foreign governments, international organizations, and other government units; and social security, social assistance benefits, and employer social benefits in cash and in kind.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1987 2.46
1988 4.17
1989 5.65
1990 56.24
1991 57.02
1992 57.37
1993 59.15
1994 60.70
1995 62.86
1996 63.24
1997 63.90
1998 53.20
1999 54.93
2000 53.42
2001 55.83
2002 55.30
2003 54.36
2004 50.17
2005 51.77
2006 52.68
2007 61.46
2008 60.17
2009 56.94
2010 58.08
2011 58.59
2012 59.05
2013 62.48
2014 62.32
2015 61.85
2016 62.22
2017 63.31
2018 66.60
2019 69.10

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance