Gyeonggi Province Compiles 2.0865 Trillion Won Second Supplementary Budget

[Suwon Ilbo=Reporter Park No-hun] Gyeonggi Province has compiled a second supplementary budget of 32.3224 trillion won for 2021. The province focused on comprehensively responding to COVID-19 and strengthening capacity for regional economic revitalization in the post-COVID era.

Choi Won-yong, Director of Planning and Coordination at Gyeonggi Province, held a press conference at the Gyeonggi Provincial Government Office on April 1 and announced, "We plan to submit the 2021 second supplementary budget bill to the Gyeonggi Provincial Assembly on April 2, with focus on strengthening the COVID-19 response system, fostering the foundation for regional economic revitalization, and enhancing residents' transportation welfare."

The second supplementary budget increased by 2.0865 trillion won (6.9%) from the first supplementary budget of 30.2359 trillion won, totaling 32.3224 trillion won, with an increase of 2.0393 trillion won in the general account and 47.2 billion won in special accounts. For the general account, the province utilized financial sources including 1.6512 trillion won in net surplus generated from 2020 excess revenue and 363.6 billion won in national treasury subsidies.

The supplementary budget submitted by Gyeonggi Province was compiled centering on projects necessary for COVID-19 response and regional economy strengthening projects that can invigorate the local economy after COVID-19 ends.

First, a total of 55.2 billion won was allocated to projects for blocking COVID-19 spread and ending COVID-19, including support for vaccination programs.

Specifically, ▲22.8 billion won for operating residential treatment centers and home care for patients with mild symptoms ▲5.4 billion won for airport buses for asymptomatic travelers and private ambulance operations for transporting COVID-19 patients ▲6.9 billion won for COVID-19 vaccination and epidemiological investigation-related expenses ▲4.7 billion won for functional improvements to local medical centers and others related to COVID-19 were each allocated.

Second, 158.4 billion won was allocated to regional economy strengthening projects including regional economic revitalization, job creation, and future growth engine development in the post-COVID era.

Main projects include: ▲30 billion won for contributions to credit guarantee foundations to support small business owners and SMEs ▲7.1 billion won for project expenses to improve the operating environment for traditional market small business owners ▲43.3 billion won for supporting SMEs and small business owners ▲60.1 billion won for job creation projects including the "Connecting Jobs" program for creating regular employment for middle-aged and older workers and the government's supplementary budget "Hope Work" project ▲34.5 billion won for discovering future growth engines in the post-COVID era such as materials, parts, and equipment business support, each allocated.

Third, a total of 89.7 billion won will be invested to enhance residents' transportation welfare. Specifically, ▲19.1 billion won for Gyeonggi Province public bus operation support to improve public transportation convenience ▲70.6 billion won for major road construction and expansion projects centered on chronic traffic congestion areas were additionally allocated.

In particular, the road construction and expansion project is concentrated 61% (43.1 billion won) in the northeastern Gyeonggi region, which faces inconvenience due to poor public transportation infrastructure and underdeveloped road conditions, and is expected to significantly help improve the transportation environment in the region.

The second supplementary budget bill is scheduled to be reviewed during the 351st temporary session of the Gyeonggi Provincial Assembly, which runs from April 13 to 29.