Chungnam Executes 3.8 Trillion Won in Local Finance in First Half of Year... Stabilizing Regional Economy

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province will promptly execute 3.8 trillion won of local finances in the first half of this year to stabilize the regional economy.

The province announced on the 4th that it decided this at the '2020 First Half Local Finance Prompt Execution Promotion Meeting' held at the COVID-19 (Wuhan Pneumonia) Field Countermeasures Headquarters established in Asan.

The meeting proceeded in the order of a comprehensive report on the promotion direction and measures for prompt execution of local finances in the first half, delivery of cooperation matters from the execution support team, and announcements of promotion measures by departments and cities/counties.

Through the meeting, the province set the execution target for the first half of this year at 68.5%, which is 3.5% higher than the government’s execution target of 65%. The target amount is 3.802 trillion won, an increase of 283.9 billion won from last year’s 3.5181 trillion won, marking the highest amount ever.

To achieve the target amount, the province plans to prioritize executing 303 billion won out of the 1.1745 trillion won consumption and investment budget in the first quarter, including personnel expenses, supplies expenses, book purchase expenses, facility expenses, assets, and goods acquisition expenses.

In addition, the province will establish monthly execution plans for each local government, regularly check the achievement level of the targets, and strengthen management by monitoring the execution status of large-scale projects in real time.

A provincial official said, “The province will focus on promptly executing local finances in the first half to prevent the regional economy from shrinking due to the novel coronavirus.”

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