Ministry of the Interior and Safety Holds Meeting to Review Local Fiscal Execution Status

Encouragement for Rapid Execution of First Half Budget and Livelihood Stabilization Budget Implementation

[Asia Economy Reporter Kiho Sung] On the 22nd, the Ministry of the Interior and Safety held a 'Local Finance Execution Status Inspection Meeting' attended by budget officers from cities, provinces, and districts nationwide.

At the meeting, the Ministry of the Interior and Safety requested local governments to make every effort to achieve the first half local finance execution target of 60.5% (approximately 171 trillion won) through focused management of consumption and investment expenditures directly related to regional economic recovery.

First, they requested to promptly proceed with ongoing and carryover projects that have completed prior preparations and to maximize the discovery of projects eligible for completion payments and progress payments to expand the scale of possible execution in the first half.

For large-scale investment projects, they urged separate focused management of progress and execution status by project and to expedite administrative procedures and compensation negotiations to expand advance payments.

Additionally, they encouraged active utilization of related systems such as advance execution of allowances and duty performance expenses, advance purchase of goods and materials, advance payment of rent, emergency bidding, and expansion of advance payment repayment, as well as using temporary special exceptions for local contracts to accelerate execution.

In particular, considering the severe livelihood economic situation, they requested special management to ensure that the livelihood stabilization budget (approximately 90 trillion won), which directly and indirectly supports vulnerable groups and small business owners, is executed in a timely manner.

Furthermore, the Ministry of the Interior and Safety emphasized that it plans to support the execution of local finance in the first half from multiple angles by continuously identifying execution difficulties faced by local governments and actively consulting with related ministries to resolve delays in national subsidy disbursement and administrative procedures.

Choi Byung-kwan, Director of the Local Finance and Economy Office at the Ministry of the Interior and Safety, stated, “In a situation where the burden on the livelihood economy is increasing, the active role of local finance directly connected to the people's economy is crucial,” and added, “We will closely cooperate with local governments to ensure that local finance execution in the first half is carried out swiftly and effectively for livelihood stabilization and early regional economic recovery.”

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