The fiscal independence ratio of South Korean local governments dropped to its lowest level this year since 1991 as tax revenues fell and subsidies from the central government increased, data showed on Tuesday.According to the data compiled by the Ministry of Security and Public Administration, the fiscal independence ratio for 244 local autonomous governments stood at 51.1 percent for 2013, compared with the 52.3 percent posted last year.
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All rights reserved to Arab Today Media Group 2021 ©
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