Damyang-gun Prepares 472.5 Billion Won Budget for Next Year, a 9.2% Increase from Last Year

Focus on Improving Local Economy, Expanding Investment in Innovative Growth, and Completing Priority Projects

[Damyang=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] On the 24th, Damyang-gun, Jeollanam-do announced that it has prepared next year’s budget focusing on improving the local economy worsened by COVID-19, expanding investment in innovative growth, and completing key investment projects.

The county prepared a main budget of 472.5 billion won and submitted it to the county council. This is an increase of 39.8 billion won (9.2%) compared to the previous year (432.7 billion won), consisting of 462.4 billion won in the general account and 10.1 billion won in the special account.

The general account revenue budget is composed of ▲local taxes 35.6 billion won ▲non-tax revenue 14 billion won ▲local allocation tax 212.2 billion won ▲national and provincial subsidies 177.9 billion won ▲adjustment grants 6.7 billion won ▲compensatory income 16 billion won.

The budget prepared this time will be concentrated on recovering the local economy depressed by COVID-19, expanding social safety nets, expanding living SOC such as cultural and sports infrastructure, and establishing road and transportation infrastructure.

A county official said, “Despite difficult financial conditions, we have made efforts to efficiently allocate the budget to revive the local economy shrunk by COVID-19 and to enrich the quality of life,” adding, “We will actively consult with the county council to secure sustainable growth engines for the region and to enable ‘Millennium Damyang’ to make a greater leap.”

Meanwhile, the 2022 main budget submitted to the county council will be finalized and approved at the plenary session on the 21st of next month after deliberation.

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