Seongdong-gu, 2019 Local Fiscal Execution Rate Ranked First in Seoul

Seongdong-gu Spent 552.1 Billion Won of Last Year's 629.4 Billion Won Budget, Execution Rate 87.72%, Ranked 1st in Seoul
...Focused Spending on Job Projects with High Resident Satisfaction, Resident Participation Budget Projects, and SOC Projects

Jung Won-oh, Mayor of Seongdong District

[Asia Economy Reporter Jongil Park] Seongdong-gu (Mayor Jeong Wono) recorded a local fiscal execution rate of 87.72% in 2019, achieving the highest local fiscal execution rate among the 25 autonomous districts of Seoul.

The district executed 552.1 billion KRW out of the total budget of 629.4 billion KRW, excluding public enterprise special accounts and fund accounts, achieving a fiscal execution rate close to 90% last year.

Since January last year, the district has actively and systematically promoted rapid fiscal execution focusing on job projects with high resident awareness, resident participation budget projects, and SOC projects to contribute to stabilizing the livelihood of ordinary citizens and revitalizing the local economy.

In particular, through intensive management of consumption and investment execution, which includes 42 budget items such as facility expenses and labor costs directly related to local economic revitalization, the consumption and investment execution rate in the fourth quarter of last year reached 107.3%, 15.6 percentage points higher than the average of 91.65% among the 25 autonomous districts of Seoul.

The district formed a ‘Rapid Execution Promotion Team’ led by the deputy mayor, checking the progress of rapid execution by bureau, department, and major project at least once a week, and actively responding to various variables in fiscal execution through special countermeasure meetings to improve the execution rate.

Jeong Wono, Mayor of Seongdong-gu, said, “This year as well, we will do our best to establish a virtuous cycle of local fiscal revitalization by promoting active rapid execution in the public sector from the beginning of the year to stabilize the livelihood of ordinary citizens and enhance local economic vitality that residents can feel.”

This content was produced with the assistance of AI translation services.