Suwon City, 482.2 Billion KRW Supplementary Budget Formulated

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province has prepared a supplementary budget of 482.2 billion KRW for the first supplementary budget of the 8th elected administration.

Suwon City announced that it submitted the '2022 First Supplementary Budget Proposal,' including the budget for responding to the resurgence of COVID-19, to the city council on the 18th.

This supplementary budget is the first budget prepared since the launch of the 8th elected administration, with a budget size of 3.3597 trillion KRW, which is 482.2 billion KRW more than this year's original budget of 2.8775 trillion KRW.

The increase by account is 442 billion KRW for the general account and 40.2 billion KRW for the special account.

For the general account, local taxes were increased by 205 billion KRW, local allocation tax by 14.6 billion KRW, and national and provincial subsidies by 154.8 billion KRW, while 13.1 billion KRW was reduced from the balance of event and festival projects in the first half of the year that could not be normally carried out due to COVID-19.

The supplementary budget includes 87.9 billion KRW for costs related to the resurgence of COVID-19 and disaster response projects, 35.3 billion KRW for 'citizen vitality promotion' projects such as special guarantees for small business owners (1.7 billion KRW), 75.8 billion KRW for 'citizen life innovation' projects such as the creation and operation of Suwon Arboretum, and 60.4 billion KRW for 'gap reduction' projects such as emergency living support for low-income households (12 billion KRW).

Kim Yong-duk, Director of Planning and Coordination Office of the city, explained, "Although resources are limited, we will allocate them efficiently and use them to faithfully fulfill our promises to citizens."