Muan County Council Member Jeong Eun-gyeong: "Strategic Fund Management Plan Needed"

Published 07 Mar.2024 16:11(KST)

5-Minute Free Speech... Need for Strategic Fund Management Measures in the Era of Ultra-Tight Fiscal Policy

Jeong Eun-kyung, a member of the Muan County Council in Jeollanam-do, proposed "Efficient Management and Strategic Operation Plans for Funds" during a 5-minute free speech at the 1st plenary session of the 292nd extraordinary meeting on the 7th.

Jeong Eun-kyung is delivering a 5-minute free speech. <br>[Photo by Muan County Council]

Jeong Eun-kyung is delivering a 5-minute free speech.
[Photo by Muan County Council]

Councilor Jeong first explained the background of her remarks, stating, "Our county has been making continuous efforts to properly manage funds in accordance with the performance analysis and recommendations from the Ministry of the Interior and Safety," and added, "According to the 2021 fiscal year fund operation performance analysis, among 21 local governments with similar population and financial scale, we ranked 14th, indicating there is still much room for improvement."

She continued, "Even considering the special characteristics of the Integrated Financial Stabilization Fund and the New Government Building Construction Fund, which constitute most of the funds, the ratio of fund formation to general account fiscal revenue is remarkably high," and pointed out, "This leads not only to financial compartmentalization but also to inefficiencies in resource allocation, where funds inversely restrict the operation of the general account budget."

In particular, she emphasized, "Regarding the Agricultural Product Price Stabilization Fund, given the high uncertainty of project expenditure timing and the difficulty of securing additional resources in the short term, we need to seriously consider fund integration or the establishment of a comprehensive fund."

Finally, she concluded her 5-minute free speech by saying, "Now is a time when strategic operation of financial means such as funds is more urgent than ever, as much as securing fiscal soundness," and expressed hope that "funds will fulfill their role as an effective financial tool to overcome the current fiscal crisis."