Jeonnam Province's Budget for This Year Reaches 10 Trillion Won... 900 Billion Won Increase Compared to Last Year

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The scale of Jeonnam Province's 2021 budget has been analyzed to be in the 10 trillion won range.

According to the 2021 budget-based financial disclosure data released by Jeonnam Province on the 4th, this year's budget scale for the Jeonnam provincial government office is 10.2213 trillion won, increased by 916.2 billion won compared to last year to revitalize the local economy stagnated by COVID-19 and strengthen the safety net for residents.

Among these, the general account is 8.2548 trillion won, the special account is 947.5 billion won, and the fund is 1.019 trillion won.

The revenue budget source based on the general account is a total of 8.2548 trillion won, with self-generated income such as local taxes and non-tax revenue at 1.967 trillion won, transfer revenue such as local allocation tax and subsidies at 5.9401 trillion won, and local bonds, compensation income, and internal transactions at 347.7 billion won.

Also, the financial independence ratio, which indicates the ability to manage finances independently, is 22.12%, and the financial autonomy ratio, which means the proportion of resources that can be autonomously executed with discretionary power, is 36.0%, ranking 16th among the 17 cities and provinces nationwide.

The expenditure budget composition ratio based on the general account is 31.24% (2.5791 trillion won) for social welfare, 21.83% (1.0821 trillion won) for agriculture, forestry, marine, and fisheries, and 8.25% (681.1 billion won) for general public administration, with social welfare and agriculture, forestry, marine, and fisheries accounting for more than half of the total.

Jo Daejeong, Jeonnam Province Budget Officer, said, "The unprecedented COVID-19 that started last year has greatly contracted the local community," and added, "We will do our best in the financial sector, such as improving financial efficiency, to stabilize residents' lives and recover the economy."

Detailed information can be found on the Jeonnam Province website under ‘Information Disclosure/Financial Management/Local Financial Disclosure (Budget Data)’.

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