Goheung-gun Launches Rapid Execution of Public Budget to Revitalize Local Economy

Execution Target of 331.1 Billion KRW, 60.6% of 546.3 Billion KRW

[Goheung=Asia Economy Honam Reporting Headquarters Reporter Shim Jeong-woo] On the 16th, Goheung-gun, Jeollanam-do announced that it is actively promoting the rapid execution of local government fiscal budgets in the public sector to overcome the economic recession caused by the prolonged COVID-19 pandemic and to revitalize the local economy.

On the 16th, the county held a first-half rapid execution and first-quarter consumption and investment execution status countermeasure report meeting at Heungyang Hall in the county office, presided over by Deputy County Governor Jeong Ha-yong, with all department heads in attendance.

At the meeting, the county shared the status of rapid execution in the first half and consumption and investment execution in the first quarter, and especially focused on discussing the progress and execution rate improvement plans for large-scale projects, including those over 500 million KRW.

Among them, to maximize the execution rate in the investment sector, everyone agreed to ensure that construction, service, goods contracts, and land compensation negotiations and acquisitions are processed as quickly as possible.

In addition, all department heads plan to make every effort to maximize the execution rate by the end of March by actively utilizing the guidelines for rapid execution of local finances, such as the 80% advance payment exception.

The rapid execution target amount for Goheung-gun in the first half of this year is 546.3 billion KRW, of which 331.1 billion KRW, or 60.6%, has been set as the execution target amount.

This target amount is 5.0% higher than the rapid execution target rate of 55.6% set by the government.

In particular, the budget for consumption and investment in the first quarter, which has a large economic ripple effect and is closely related to residents' lives, will be managed intensively through separate management.

The county plans to further accelerate the execution rate by combining the first-half rapid execution target amount and the first-quarter consumption and investment target amount of 93.7 billion KRW, totaling 424.8 billion KRW, to revitalize the local economy.

Deputy County Governor Jeong Ha-yong said, “As the prolonged COVID-19 pandemic makes maximum rapid execution of public sector budgets an essential requirement for stabilizing people's livelihoods and revitalizing the local economy, we will do our best to achieve the first-half target amount early.”

Goheung=Asia Economy Honam Reporting Headquarters Reporter Shim Jeong-woo sevenshim@asiae.co.kr

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