Suncheon-si Selected as an Excellent Institution for Rapid Execution of Local Finance in the First Half of the Year

Ministry of the Interior and Safety Secures Special Grant of 35 Million KRW

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do (Mayor Heo Seok) announced on the 12th that it was selected as an excellent institution in the first half of this year's rapid fiscal execution performance evaluation conducted by the Ministry of the Interior and Safety, securing a special grant of 35 million KRW.

Rapid execution of local finances is a system designed to alleviate economic recession and improve the efficiency of fiscal management through expansive and proactive fiscal spending in the public sector.

The city checked the progress of major projects by each department from the beginning of the year to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 situation, and made efforts to increase the execution rate by devising active fiscal execution measures for underperforming projects.

As a result, out of the rapid execution target amount of 648.1 billion KRW, 393.1 billion KRW was executed, achieving an all-time high execution rate of 60.7%. In particular, 286.4 billion KRW was executed in the consumption and investment sector, which directly affects the local economy, achieving 124% of the target amount.

Mayor Heo Seok of Suncheon said, "This is the result of all public officials actively working in their respective positions to recover the stagnant local economy due to the prolonged COVID-19 pandemic," and added, "In the second half of the year, we will further accelerate fiscal execution in the consumption sector and large-scale investment projects to revitalize the local economy."