Changnyeong County to Boost Local Economy Through Accelerated Budget Spending in Second Half

Proactive Budget Execution to Revitalize the Local Economy
and Minimize Carryovers and Unspent Funds

Changnyeong County, South Gyeongsang Province, will accelerate the execution of its local budget in the second half of the year to invigorate the local economy and minimize the amount of this year's budget carried over or left unused.

To this end, the county held a briefing on implementation progress on October 26 to review budget execution by department and plans for spending the remaining funds.

The scene of Changnyeong County Governor Seong Nak-in explaining at a briefing. [Photo provided by Changnyeong County]

At the briefing, chaired by County Governor Seong Nakin, officials closely reviewed each department's plans for major projects and the reasons for delays. They also discussed ways to manage the budget efficiently, including accelerating projects that can be completed within the year and carefully reviewing those that are lagging behind.

The county will operate a Fiscal Execution Task Force, led by the deputy county governor, with a target of spending 831.2 billion won, or 85% of its budget for the second half of the year. The task force plans to focus administrative efforts on meeting the target by regularly reviewing each department's spending performance and conducting tailored fiscal reviews of departments and projects that are falling behind.

In particular, to invigorate the local economy, which is struggling with high prices and other challenges, the county plans to step up spending on carried-over funds and use the Ministry of the Interior and Safety's guidelines for accelerated budget execution, including expedited bidding, to minimize the amount of this year's budget carried over or left unused.

County Governor Seong Nakin said, "Timely budget spending allows projects closely tied to residents' lives to proceed smoothly and provides tangible support to the local economy. I ask each department to do its utmost to ensure that these valuable resources are used where they are needed most."

Earlier, the county was named the "top-performing institution" in South Gyeongsang Province's first-half evaluation of expedited budget execution and secured 300 million won in incentives.

Changnyeong County's commitment to accelerating local budget spending is expected to help complete projects closely tied to residents' lives ahead of schedule and make a significant contribution to revitalizing the local economy.

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