Busan City and Districts Promise Responsible Fiscal Management for Future Generations through Sound Finances

Declaration Ceremony of Busan City and 16 Districts at City Hall on the 25th at 2 PM

Sharing the 2024 Government and Busan Financial Conditions and Management Directions Together

On the 25th at 2 PM, Busan City will hold a sound fiscal declaration ceremony in the main conference room of City Hall, attended by the heads of 16 districts and counties, as well as all 28 directors of Busan City's offices, bureaus, and headquarters.

Busan City Hall.

This event was organized to align with the government's fiscal policy, sharing the financial status between the city and districts/counties, and pledging responsible fiscal management for future generations.

At the event, Mayor Park Hyung-jun and the 16 district mayors and county heads will jointly sign a declaration promising sound fiscal management and carry out a performance.

Last year, the government shifted its fiscal policy from expansionary to sound fiscal management and emphasized this once again at the National Fiscal Strategy Meeting in June.

Accordingly, through the joint declaration, the city and districts/counties promise to ① strictly recognize the government's austerity fiscal policy and do their best to reduce unnecessary fiscal expenditures, ② focus the saved resources on improving citizens' quality of life by enhancing the efficiency of fiscal management, and ③ fulfill their responsibility to future generations to the citizens of Busan.

The declaration will be read aloud by Oh Eun-taek, the mayor of Nam-gu, as the representative, and a performance pledging sound fiscal management will be held while holding placards with messages such as ‘Sound Fiscal Management,’ ‘Bright Future,’ and ‘Promise to Citizens.’

Before the joint declaration, the fiscal conditions and fiscal management directions of the government and Busan City will be shared.

Based on the current status of national and local tax collections, the fiscal conditions and management directions for the next year will be explained, and from the budget request stage, the seriousness of fiscal management will be recognized to maintain sound fiscal management while ensuring that budgets are appropriately used for essential elements directly related to citizens' lives.

In particular, policies aiming for both sound and efficient fiscal management will be introduced, such as promoting efficiency in various centers that increase fiscal burdens as representative rigid expenses, improving accounting operation efficiency through the rationalization of other special accounts and funds, and strengthening subsidy performance evaluations.

Mayor Park Hyung-jun stated, “Today’s declaration does not mean simply reducing fiscal input unconditionally, but boldly restructuring projects with insufficient performance and unnecessary budgets, while securing the sustainability of finances so that essential projects such as stabilizing people’s livelihoods, responding to regional extinction, and protecting vulnerable groups can proceed without disruption.” He added, “The government, city, and districts/counties will form a consensus and work together to establish fiscal soundness.”

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