Gyeongnam Provincial Council Reviews Gyeongnam Province's 3rd Supplementary Budget Proposal with 55.9 Billion KRW Increase Compared to Previous

On the 22nd, the Gyeongnam Provincial Council's Special Committee on Budget and Accounts conducted a review of the 3rd supplementary budget proposal for Gyeongsangnam-do. [Image source=Gyeongsangnam-do]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] The Gyeongsangnam-do Provincial Council announced on the 23rd that at the 1st meeting of the Budget and Accounts Special Committee under the jurisdiction of the provincial government during the 390th regular session on the 22nd, it conducted a comprehensive review of the 2021 Gyeongsangnam-do 3rd supplementary budget proposal and approved an amended version.

The 3rd supplementary budget proposal for Gyeongnam Province totals 12.3842 trillion KRW, an increase of 55.9 billion KRW (0.5%) compared to the original budget. Since the 2nd supplementary budget, changes in central government support projects and fluctuations in local taxes and non-tax revenues have been reflected. The funds were secured by reorganizing unused budgets due to event cancellations and other reasons.

On that day, the Budget and Accounts Special Committee members reviewed whether the valuable resources were appropriately allocated based on the preliminary review results from the relevant standing committees, focusing on the necessity of projects and the adequacy for achieving their objectives.

As a result, an amendment to increase 50 million KRW for one project with increased national funding after the supplementary budget submission was approved, and 17 supplementary opinions were adopted.

This 3rd supplementary budget proposal will be finally approved at the 3rd plenary session of the 390th regular session on the 24th.

Chairman Shin Yong-gon said, "This supplementary budget is a closing budget for the year. Since everyone is going through difficult times, I hope the executive branch will promptly execute the allocated budget to support vulnerable groups affected by COVID-19 and do their best to restore the livelihood economy."

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