Andong-si Allocates 1.255 Trillion Won for Next Year's Main Budget... 0.4% Increase from This Year

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Andong City, Gyeongbuk Province announced on the 19th that it will prepare the next year's main budget at 1.255 trillion won and submit it to the city council on the 20th. This is an increase of 0.4% (5 billion won) compared to this year's main budget.

By account, the general account is 1.1135 trillion won, an increase of 0.2% (2.7 billion won) compared to this year, maintaining a stable general account main budget of 1 trillion won as in this year.

The special account is 141.5 billion won, an increase of 1.7% (2.3 billion won). The special account for water supply and sewage public enterprises increased by 2 billion won to 99 billion won, and 13 other special accounts including water quality improvement projects also increased by 300 million won to a total of 42.5 billion won compared to this year.

General account revenue increased by about 5.5 billion won in local taxes and non-tax revenue, and national and provincial subsidies increased by about 8.3 billion won. While the net surplus increased by 4.3 billion won, local allocation tax decreased by about 15.4 billion won.

The general account expenditure budget by major sector is ▲social welfare 322.6 billion won (28.9%) ▲agriculture, forestry, marine, and fisheries 164.7 billion won (14.8%) ▲culture and tourism 149.9 billion won (13.4%) ▲land and regional development 70.5 billion won (6.4%) ▲environment 62.5 billion won (5.6%) ▲transportation and logistics 55.5 billion won (4.9%) ▲industry and small and medium enterprises 50.6 billion won (4.6%), etc. In next year's budget, the social welfare sector, including basic pension and childcare support, accounts for the largest portion.

An Andong City official explained, "To enhance efficiency with limited resources, the budget was prepared focusing on ongoing and finishing projects, and new projects were prioritized for investment based on projects for regional economic recovery and Andong's great leap forward."

Meanwhile, Andong City's finances first surpassed 1 trillion won with the first supplementary budget in 2017, and this year, after the supplementary budget in August, it has reached the 1.4 trillion won level.

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