Pyeongtaek City Sets 2.4325 Trillion Won Budget for Next Year... 6.1% Increase Compared to This Year

Pyeongtaek City in Gyeonggi Province announced on the 20th that it has prepared a budget proposal of 2.4325 trillion won for next year and submitted it to the city council. This is an increase of 138.9 billion won (6.1%) compared to this year.

Among next year's budget proposal, the general account is 2.0284 trillion won, an increase of 64 billion won (3.3%). On the other hand, the special account was prepared at 404.1 billion won, an increase of 22.8% (74.9 billion won) compared to this year.

The city explained that the financial management direction for next year is set as 'systematic revenue management and sound and effective financial operation,' focusing on ▲revitalizing the local economy ▲welfare for vulnerable groups ▲future industries such as hydrogen and semiconductors ▲and responding to the climate crisis.

Looking at the main revenues of the general account, autonomous resources increased by 14.7 billion won, including local taxes and non-tax revenues of 844.1 billion won and local allocation tax and adjustment grants of 278 billion won. National and provincial subsidies amounted to 818 billion won, an increase of 40.2 billion won compared to the previous year.

General account expenditures consist of 916.9 billion won for self-funded projects and 1.1115 trillion won for national and provincial subsidy projects. In the case of national and provincial subsidy projects, large-scale investment projects such as the Pyeongtaek Art Center are being actively promoted, and social welfare projects are being expanded, increasing by 28.2 billion won (2.6%) compared to this year.

By sector, the general account is allocated as follows: ▲social welfare 868.5 billion won (42.8%) ▲transportation and logistics 185.9 billion won (9.2%) ▲environment 159.7 billion won (7.8%) ▲culture and tourism 131.6 billion won (6.5%) ▲agriculture, forestry, marine, and fisheries 116.5 billion won (5.7%) ▲land and regional development 100.6 billion won (4.9%) ▲general public administration 82.6 billion won (4.1%) ▲education 54 billion won (2.6%) ▲health 40.2 billion won (1.9%) ▲industry, small and medium enterprises, and energy 31.1 billion won (1.5%) ▲public order and safety 19.8 billion won (0.9%), in that order.

The budget proposal submitted by the city for next year is scheduled to be approved and finalized at the plenary session on the 18th of next month.