Korea, Democratic People's Republic of (DPRK) - Public finance



The annual state budget is approved at regular sessions of the Supreme People's Assembly (SPA). In April 1995, the government failed to announce its 1995/96 budget at the annual meeting of the SPA, which exacerbated the economic stagnation. Foreign aid, important after the Korean War, has not appeared as budgetary income since 1961.

The US Central Intelligence Agency (CIA) estimates that in 1992 North Korea's central government took in revenues of approximately $19.3 billion and had expenditures of $19.3 billion. Total external debt is estimated to exceed $12 billion, 75% owed to OECD countries.

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