Korea, Rep. | Expense (current LCU)

Expense is cash payments for operating activities of the government in providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits, and other expenses such as rent and dividends. 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.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source
Korea, Rep. | Expense (current LCU)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 661000000000
1973 625000000000
1974 977000000000
1975 1459000000000
1976 2108000000000
1977 2535000000000
1978 3421000000000
1979 4747000000000
1980 5963000000000
1981 7391000000000
1982 9117000000000
1983 9645000000000
1984 10767000000000
1985 12243000000000
1986 13638000000000
1987 15403000000000
1988 17840000000000
1989 21735000000000
1990 26593000000000
1991 31960000000000
1992 37244000000000
1993 41348000000000
1994 49124000000000
1995 57030000000000
1996 65038000000000
1997 70737000000000
1998 82057059000000
1999 87806743000000
2000 1.00292533E+14
2001 1.15461979E+14
2002 1.21160381E+14
2003 1.44873577E+14
2004 1.55968443E+14
2005 1.706121E+14
2006 1.865582E+14
2007 1.96368942E+14
2008 2.11420508E+14
2009 2.3265968382826E+14
2010 2.33138336E+14
2011 2.51894525E+14
2012 3.54749E+14
2013 3.60686E+14
2014 3.6914652728681E+14
2015 3.8945953177648E+14
2016 4.0916239179559E+14
2017 4.3988603319786E+14
2018 4.7299231159636E+14
2019 5.2947660352262E+14
2020 5.7689888309959E+14
2021 6.3427778407933E+14
2022

Korea, Rep. | Expense (current LCU)

Expense is cash payments for operating activities of the government in providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits, and other expenses such as rent and dividends. 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.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source