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Breaking: North Korean state media says the Supreme People’s Assembly (SPA) was held on Sunday. More soon @nknewsorg
STORY UP
North Korea lays out budget plans, personnel changes at parliamentary meeting:
Lawmakers agree to spend 47.8% of state budget on economy, 15.9% on national defense https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
North Korea lays out budget plans, personnel changes at parliamentary meeting:
Lawmakers agree to spend 47.8% of state budget on economy, 15.9% on national defense https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
1/ Six top agenda items were reportedly discussed, three of which were on the adoption of new laws: on recycling resources, on “tele-education,” and “providing living conditions” for discharged military officers. https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
2/ North Korean leader Kim Jong Un, who did not stand for election to the SPA at last March’s elections, did not attend Sunday’s parliamentary session. But the previous day, politburo meeting: https://www.nknews.org/2020/04/kim-jong-un-guides-saturdays-politburo-meeting-ahead-of-spa-state-media/?t=1586745147617">https://www.nknews.org/2020/04/k...
3/ Continued focus on econ.
- 6.2% more fund than last year is to be allocated for econ construction
- 47.8% of total expenditure
- A slight increase from to 2019 budget, when economic affairs saw a 5.4% y/y increase (47.8% the same) https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
- 6.2% more fund than last year is to be allocated for econ construction
- 47.8% of total expenditure
- A slight increase from to 2019 budget, when economic affairs saw a 5.4% y/y increase (47.8% the same) https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
4/ Defense budget
- 15.9% of total state expenditure to national defense
- represents a marginal increase from 15.8% the previous year https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
- 15.9% of total state expenditure to national defense
- represents a marginal increase from 15.8% the previous year https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
5/ A notable increase of investment in public health sector (likely re: #covid)
- 7.4% year-on-year increase in funding
- last year saw a 5.8% increase, in comparison https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
- 7.4% year-on-year increase in funding
- last year saw a 5.8% increase, in comparison https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
6/ No mention of Wonsan-Kalma as key project unlike the previous year.
-Instead: listed “Pyongyang General Hospital & installation of an oxygen separator of the Kim Chaek Iron and Steel Complex” as key construction projects due this year https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
-Instead: listed “Pyongyang General Hospital & installation of an oxygen separator of the Kim Chaek Iron and Steel Complex” as key construction projects due this year https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
7/ State budgetary revenue expected to grow 4.2%
- key sources noted: “transaction tax” and “revenue from the profits of state enterprises”
- “revenue from the state-invested fixed asset depreciation” is to be newly included
(Thoughts?) https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
- key sources noted: “transaction tax” and “revenue from the profits of state enterprises”
- “revenue from the state-invested fixed asset depreciation” is to be newly included
(Thoughts?) https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
8/ The sector that saw the highest increase in the budgetary expenditure this year: science and technology (9.5% 
https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Upwards arrow" aria-label="Emoji: Upwards arrow">) https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
Read more about the DPRK’s 2020 goals & leadership reshuffle seen from yesterday’s SPA here. https://www.nknews.org/2020/04/near-half-of-north-koreas-2020-expenditure-to-be-spent-on-economy-parliament/">https://www.nknews.org/2020/04/n...
