Gyeonggi-do Sets 33.5665 Trillion Won Budget for Next Year... First Main Budget Surpasses 30 Trillion Won

Choi Won-yong, Director of Planning and Coordination Office of Gyeonggi Province, is explaining the 2022 budget.

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has prepared a budget of 33.5665 trillion KRW for next year. This is an increase of 4.6937 trillion KRW (16.3%) compared to this year's 28.8724 trillion KRW. It is the first time the budget has surpassed 30 trillion KRW based on the main budget.

Gyeonggi Province announced on the 1st that it prepared next year's budget based on five key strategies: ▲ Together Gyeonggi where residents are the owners ▲ Welfare Gyeonggi guaranteeing the basics of life ▲ Fair Gyeonggi full of innovative economy ▲ Clean environment, desirable Gyeonggi to live in ▲ Safe and enjoyable Gyeonggi, with the top priority goal of "Opening a fair world in Gyeonggi Province."

Next year's budget consists of 29.9414 trillion KRW in the general account and 3.6247 trillion KRW in the special account.

Looking at the main revenue areas of the general account, local taxes for next year are estimated at 17.1446 trillion KRW, an increase of 4.5085 trillion KRW compared to this year's 12.6361 trillion KRW. In addition, dependency resources such as national subsidies are 11.514 trillion KRW, an increase of 922.1 billion KRW compared to this year's 10.5919 trillion KRW.

Expenditures include 505.5 billion KRW for administrative operating expenses such as personnel costs, and 2.082 trillion KRW for financial activities including transfers to the Fire Safety Special Account and Disaster Management Fund. Policy projects include statutory expenses such as transfers to city/county and education offices totaling 9.5095 trillion KRW, national subsidy projects of 13.1246 trillion KRW, and self-funded projects of 3.3486 trillion KRW.

By sector, the welfare budget increased by 1.3261 trillion KRW from this year's 10.9192 trillion KRW to 12.2453 trillion KRW (40.9%). Also, the economic sector, including the expansion of local currency issuance and the establishment of the Gyeonggi Province Basic Financial Fund, was allocated 685.1 billion KRW, an increase of 18.9% (109.1 billion KRW) compared to this year's 576 billion KRW. In particular,

a total of 182.4 billion KRW will be invested in the COVID-19 response budget, including vaccination and strengthening the capacity of public medical centers.

Choi Won-yong, Director of the Planning and Coordination Office of the province, explained, "We prepared the budget focusing on keeping promises to residents based on the core values of the 7th elected administration, 'New Gyeonggi, Fair World.'"

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