Largest Budget Ever, Focus on Overcoming Wildfire Damage and Revitalizing the Local Economy
Yeongdeok County's budget for this year has increased to 989.7 billion won.
Yeongdeok County in North Gyeongsang Province has drawn up its second supplementary budget for this year, totaling 989.7 billion won, and submitted it to the county council on December 12.
This represents an increase of 114.7 billion won (13.11%) compared to the first supplementary budget. The general account rose by 115.5 billion won (13.68%) to 959.7 billion won, while the special account decreased by 800 million won (2.5%) to 30 billion won.
This is the largest budget in the county's history, marking a 46% increase from last year's final budget of 674.8 billion won and a rise of 324.8 billion won compared to 664.9 billion won in 2022.
Yeongdeok County explained that the main reasons for the expanded supplementary budget include a significant increase in national and provincial subsidies related to wildfire response, a rise in special grants, as well as greater inclusion of major infrastructure projects and key local initiatives.
Accordingly, the main national and provincial subsidy projects include: 23.23 billion won for forest disaster response (removal of hazardous trees), 10.94 billion won for pine mushroom alternative crop projects, 5 billion won for urban regeneration (special regeneration), and 4.5 billion won for village-level wildfire recovery and regeneration projects. These efforts aim to overcome wildfire damage and strengthen disaster and safety infrastructure.
In addition, the county is focusing its finances on projects that directly impact residents’ quality of life and infrastructure expansion, such as 9.39 billion won for the maintenance of the Ganggu (Old) Bridge disaster risk area, 1.68 billion won for the fisheries product distribution center (FPC), 1.65 billion won to support the issuance of local gift certificates, and 1.45 billion won to support the supply of purchased rental housing (in response to low birth rates).
Furthermore, the county has allocated 470 million won for the reconstruction of Yeongdeok Market and 200 million won for the Chuksan Blue City development project, among other self-funded initiatives, to ensure the smooth completion of key pending projects.
A Yeongdeok County official stated, "This supplementary budget focuses on overcoming wildfire damage and revitalizing the local economy. We will ensure that projects directly linked to residents’ lives are completed without delay and will continue to deliver tangible results that residents can feel."
Yeongdeok County Office.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
