Gyeonggi-do Encourages Early Fiscal Execution in 31 Cities and Counties... Expected to Boost Consumption and Investment

Gyeonggi-do Financial Execution Inspection Meeting

Gyeonggi Province has actively encouraged fiscal spending for the fourth quarter (October to December) of this year.

On the 7th, Gyeonggi Province held the "2023 4th Quarter Fiscal Spending 2nd Inspection Meeting" at the Gyeonggi Provincial Office, chaired by Oh Byeong-kwon, the First Deputy Governor of Administration.

The meeting was organized to review the spending status of 31 cities and counties about 15 days before the end of the fourth quarter and to discuss ways to improve the spending rate.

During the meeting, the fiscal spending status, implementation plans, and issues of each city and county were reviewed, and measures to increase the spending rate were discussed.

To assist cities and counties facing difficult financial situations, Gyeonggi Province advanced the payment timing of the general adjustment grants distributed to them, providing 779.1 billion KRW early by the end of November. Additionally, several more inspection meetings will be held, and through on-site visits to major large-scale investment projects, active fiscal spending will be promoted until the end of the year.

Oh Byeong-kwon, Deputy Governor of Gyeonggi Province, urged, "Since Gyeonggi Province accounts for the largest portion of local finances nationwide, please make greater efforts with a stronger sense of responsibility to actively execute fiscal spending until the end of the year." He added, "Especially, please maximize the spending rate of consumption and investment projects that can lead to economic revitalization."

Meanwhile, in the first half of 2023, Gyeonggi Province's main office and 17 cities and counties were selected as outstanding local governments in the Ministry of the Interior and Safety's rapid spending evaluation, receiving a total of 1.22 billion KRW in special grants.

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