Gyeongsangnam-do's Financial Independence Rate at 32.95%... Increased from Previous Year

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] This year, Gyeongnam's fiscal independence ratio was 32.95%, showing an increase compared to the previous year.

Gyeongsangnam-do disclosed the budget-based fiscal status, including the 2022 fiscal year budget scale and budget operation status, on its website on the 28th.

The province's budget scale for this year is 11.8444 trillion KRW, an increase of 640.4 billion KRW compared to the previous year. The 'fiscal independence ratio,' which is the ratio of self-generated revenue to the general account budget scale in the initial budget, increased by 1.04 percentage points to 32.95% compared to the previous year.

The 'fiscal autonomy ratio,' which adds local allocation tax to self-generated revenue, rose by 1.81 percentage points to 40.81%. The integrated fiscal balance (including net world surplus) based on the initial budget showed a deficit of 185.7 billion KRW. This amount decreased by 82 billion KRW compared to the previous year's 267.7 billion KRW deficit.

Jeong Seol-hwa, head of the New Deal Promotion Team of Gyeongnam Province, said, "We plan to actively operate the fiscal disclosure system to realize the residents' right to know," adding, "Based on this, we will do our best for sound and efficient fiscal management."

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