Suwon City Achieves 130% of Local Finance Rapid Execution Target... Ranked No.1 Nationwide

Suwon Special City

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province achieved 130% of its local finance rapid execution target for the first quarter (January to March) this year, ranking first nationwide.

On the 7th, Suwon City announced that it executed 226.1 billion KRW, which is 129.8% of the first quarter rapid execution target of 174.2 billion KRW, recording the highest execution rate among 157 cities and counties nationwide.

In February, Suwon City formed the "Rapid Execution Promotion Team" led by Acting Mayor Cho Cheong-sik to continuously monitor the progress of each department and project. They also established a cooperation system to improve performance and held internal inspection meetings by department, putting great effort into achieving the target.

In particular, in the first quarter, they intensively checked and managed budgets in the consumption and investment sectors, which directly affect regional economic growth rates.

Out of the consumption sector budget of 445.8 billion KRW, 137.9 billion KRW (30.9%) was executed in the first quarter, including 72.9 billion KRW for personnel expenses and 65.0 billion KRW for goods expenses. Additionally, 88.2 billion KRW (16.7%) was used out of the investment sector budget of 526.7 billion KRW.

Acting Mayor Cho Cheong-sik emphasized, "Thanks to the interest and efforts of Suwon City public officials, we were selected as the best rapid execution institution in the first half of 2020 and 2021, and we were able to rank first nationwide in rapid execution in the first quarter of this year as well. In the second quarter, we will focus on discovering budgets that can be executed and achieve the rapid execution target to revitalize the local economy struggling due to COVID-19."

The Ministry of the Interior and Safety sets rapid execution targets for local finances and conducts evaluations twice a year for 243 local governments nationwide.

Suwon City received the "Best Rapid Execution Institution" award in 2020 and the first half of 2021. As a result of being selected as the best institution, it received special grants of 80 million KRW in 2020 and 55 million KRW in 2021, respectively.

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