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However, inside North Korea the word "tax" is not used, and the term for state revenue has been variously translated as "socialist income accounting", "socialist economic management income", and in similar fashion. [4] [5] "Tax Abolition Day" is observed annually on 1 April in North Korea. [1]
The South Korean government's estimate placed North Korea's GNP in 1991 at US$22.9 billion, or US$1,038 per capita. In contrast, South Korea posted US$237.9 billion of GNP and a per capita income of US$5,569 in 1991. North Korea's GNP in 1991 showed a 5.2% decline from 1989, and preliminary indications were that the decline would continue.
This is the map and list of Asian countries by monthly average wage (annual divided by 12 months) gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar. The chart below reflects the average (mean) wage as reported by various data providers.
North Korea's nominal gross national income in 2023 was estimated to be 1.59 million won ($1,147.56) per capita, equivalent to just 3.4% of the South's 47.25 million won.
North Korea's economic growth between 2011 and 2017 is estimated to be ranging from 1 percent to 5 percent. [8] North Korea expert Andrei Lankov has said that North Korea's real growth rate is 3–4%.
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The Ministry of Finance (Korean: 조선민주주의인민공화국 재정성) is a government ministry in North Korea which is responsible for planning and managing the economic policies of the Democratic People's Republic of Korea. It deliberates the budget, establishes tax and economy policies, establishes fiscal policies and national ...
While North Korea is classified as a low-income country, the structure of North Korea's causes of death (2013) is unlike that of other low-income countries. [409] Instead, it is closer to worldwide averages, with non-communicable diseases—such as cardiovascular disease and cancers—accounting for 84 percent of the total deaths in 2016. [410]