Damyang-gun Submits First Preliminary Budget Proposal of the 8th Elected Term Worth 516.7 Billion KRW
9.2% Increase Compared to Previous Year, Drafting the Main Budget to Implement the Eighth Elected Term Military Administration Policy
[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] On the 24th, Damyang-gun, Jeollanam-do announced that it has prepared a main budget plan of 516.7 billion KRW, an increase of about 44.2 billion KRW (9.3%) compared to the previous year (472.5 billion KRW).
The county formulated the budget focusing on key policies to implement the pledges of the 8th local government administration, including ▲ prosperous wealthy farming villages ▲ realization of rural welfare ▲ creation of Damyang-type jobs ▲ establishment of educational and cultural infrastructure ▲ development without regional disparities across all areas.
The general account revenue budget consists of ▲ local taxes 40.1 billion KRW ▲ non-tax revenue 16.1 billion KRW ▲ local allocation tax 246.4 billion KRW ▲ national and provincial subsidies 183.5 billion KRW ▲ adjustment grants 6.0 billion KRW ▲ compensation income 16.0 billion KRW.
Among the expenditure budget by sector based on the general account, the agriculture, forestry, marine, and fisheries sector budget significantly increased by 31.1 billion KRW (+4.4%) from the previous year to 118.4 billion KRW, planning to provide financial support for building wealthy farming villages.
A county official stated, “Although economic conditions have partially improved due to the recovery of consumer sentiment, the main budget plan for next year was prepared considering the active role of finance to overcome the persistent uncertainties in domestic and international economic situations. We will actively consult with the county council during the budget review process.”
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Meanwhile, the 2023 main budget plan submitted to the county council will be finally confirmed and approved at the plenary session on December 21 after deliberation by the Damyang County Council.
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