Gurye-gun Announces Local Fiscal Management Status... This Year's Financial Independence Rate at 7.06%

Budget Scale 352.2 Billion KRW... 27.3 Billion KRW Increase from Previous Year, Financial Independence Ratio 62.31%

Local Bond Issued for County Office Expansion in 2013 Fully Repaid

[Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Miseok] Gurye-gun, Jeollanam-do announced the status of local financial management based on this year's main budget on the county website on the 11th.

Local financial disclosure is a system based on the Local Finance Act to ensure financial accountability and transparency and to disclose financial conditions and financial management results to residents.

According to the disclosed data, this year's budget size of Gurye-gun is 352.2 billion KRW, an increase of 27.3 billion KRW compared to last year, with a financial independence ratio of 7.06% and a financial self-reliance ratio of 62.31%.

Financial management achievements include sound management of personnel expenses, reduction of business promotion expenses, and reduction of event and festival expenses, reflecting 1.258 billion KRW in ordinary local allocation tax financial demand.

In particular, this year, all local bonds issued for the expansion of the county office building in 2013 were repaid, lowering the managed debt ratio.

A county official said, "Although financial management was difficult due to the burden of restoration costs caused by the heavy rain in 2020, efforts such as securing government budgets and improving the ordinary local allocation tax system for affected local governments have helped resolve financial management difficulties," adding, "We will continue to strive for sound and efficient financial management."

Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Miseok kun578@asiae.co.kr

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