April 23, 2024
Economy
17% state projects graded ‘poor’
[THE INVESTOR] More than 17 percent state financing projects were rated as “poor” in the latest efficiency assessment this year, the Finance Ministry said on May 22.
Out of 1,415 projects worth a combined 116.1 trillion won (US$103.90 billion) run by 50 government ministries and agencies in 2017, 249 schemes received the lowest grade, with 238 plans appraised as “excellent,” according to the ministry.
The government carries out an efficiency test on state financing projects annually, and the results are reflected in budget planning for the following year.
Based on the latest assessment, 253 projects worth 1.19 trillion won will be subject to an expenditure restructuring program, with 66 projects to face performance-improving measures, the ministry said.
Alex Lee and newswires (alexlee@heraldcorp.com)
Out of 1,415 projects worth a combined 116.1 trillion won (US$103.90 billion) run by 50 government ministries and agencies in 2017, 249 schemes received the lowest grade, with 238 plans appraised as “excellent,” according to the ministry.
The government carries out an efficiency test on state financing projects annually, and the results are reflected in budget planning for the following year.
Based on the latest assessment, 253 projects worth 1.19 trillion won will be subject to an expenditure restructuring program, with 66 projects to face performance-improving measures, the ministry said.
Alex Lee and newswires (alexlee@heraldcorp.com)
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