Korea ranked eighth out of 100 countries in the 2012 Open Budget Index (OBI), a survey conducted by the International Budget Partnership (IBP). The nation’s ranking rose two notches since the last survey conducted in 2010. According to the survey, Korea’s level of budget transparency is similar to that of the major OECD member states, such as the UK (3rd), France (6th), US (7th), and Germany (13th). In particular, Korea received top scores in the ‘public participation in the budget process’ category, a section that was newly added to the index in 2012. Korea was the highest ranking nation in this category with a score of 92.



* Source : Ministry of Strategy and Finance and Korea Development Institute, Economic Bulletin Vol.35 No.2 (February 2013).
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