Gwangju Buk-gu, Nationwide Best in Rapid Local Finance Execution

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Buk-gu, Gwangju Metropolitan City (Mayor Moon In) announced on the 3rd that it was selected as the best institution nationwide in the '2019 Second Half Local Finance Rapid Execution Promotion Performance Evaluation' conducted by the Ministry of the Interior and Safety targeting 243 local governments nationwide, and will receive a special grant of 400 million won.

Buk-gu achieved an execution rate of 92.46%, exceeding the financial execution target of 84.5% by executing 743.7 billion won out of the 804.3 billion won budget last year, achieving the great success of being selected as the best autonomous district for nine consecutive years.

To achieve these results, it has actively managed finances aiming at stabilizing the lives of ordinary citizens and revitalizing the local economy through job projects that residents can feel, resident participation budget projects, and living SOC projects.

In particular, by operating a rapid execution situation room, it continuously monitored consumption and investment projects such as labor costs and facility costs, and put all efforts into improving the execution rate by specially managing projects with low budget execution, which is analyzed to have led to the award.

Buk-gu plans to quickly execute the budget in the first half of this year as well to invigorate the local economy and exceed the autonomous district financial execution target of 57%.

Mayor Moon In of Buk-gu said, “This award is the result of all departments of the district office actively working to stabilize residents' lives and enhance local economic vitality,” and added, “We will continue to strengthen the soundness of local finance and focus on substantial budget execution to establish a virtuous cycle of local finance.”

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