Incheon City "54 Trillion Won in National Budget Reflected in Next Year's Government Budget Proposal"…7.5% Increase from This Year

Incheon City is expected to receive more than 5.4 trillion won in national government funding next year, marking the largest amount ever.

On the 4th, Incheon City announced that after analyzing the 2024 government budget proposal submitted to the National Assembly, the city's tentative amount for next year's national subsidy is estimated at 5.4445 trillion won. This exceeds the city's original target of 5 trillion won for next year's national subsidies and represents an increase of 379.4 billion won (7.5%) compared to this year's secured amount of 5.0651 trillion won.

The major national government-funded projects reflected in the government budget proposal include ▲GTX-B Line with 356.2 billion won ▲Seoul Subway Line 7 Cheongna Extension with 114.5 billion won ▲Incheon-origin KTX construction with 74.6 billion won ▲Yeongjong?Sindo road construction with 25 billion won ▲Installation of stormwater retention facilities to prepare for flood disaster risks with 17.8 billion won. Additionally, projects such as ▲Development of drinking water sources in island areas with 12.1 billion won ▲Smart Village dissemination and expansion with 20 billion won ▲Construction of the National Incheon Maritime Museum with 20.9 billion won ▲Construction of family centers with 1.2 billion won are also included.

The city plans to cooperate with local members of the National Assembly to ensure additional reflection of projects that were not included in the government budget proposal or were reduced from the originally requested national subsidy amounts, such as ▲Increase in residential living support funds for the West Sea 5 Islands with 3.5 billion won ▲Establishment of a metropolitan infectious disease specialized hospital with 1.1 billion won ▲Replacement of outdated equipment at rehabilitation hospitals in the Gyeongin area with 2.9 billion won.

An official from Incheon City stated, "Considering that the government's total expenditure growth rate for next year is 2.8%, the lowest since 2005, this is a very meaningful achievement," and added, "We will make every effort to secure additional national funding during the National Assembly's review process."

Incheon City Hall

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