Gyeonggi Province Secures Record 16.56 Trillion Won in National Budget for 2022

[Suwon Ilbo=Reporter Park Nohun] Gyeonggi Province has secured 16.56 trillion won in national budget for 2022.

The province analyzed the revised 2022 government budget passed by the National Assembly on the 3rd and confirmed it has secured 16.56 trillion won in national budget, which is 183.8 billion won (1.1%) more than this year's 16.38 trillion won, marking a record high.

The initial government budget proposal for Gyeonggi Province included 16.23 trillion won, but 32.88 billion won was added during the National Assembly's review process.

The 32.88 billion won increase across 65 projects was allocated as follows: ▲16.4 billion won for social overhead capital (SOC) projects including the Wolgot-Pangyo double-track railway with 4.67 billion won ▲8.58 billion won for economic and job creation projects including 8.4 billion won for expanded regional love voucher issuance support ▲3.84 billion won for culture and education projects including 3.63 billion won for early childhood education and childcare subsidies ▲4.06 billion won for other projects including 2.12 billion won for metropolitan bus semi-public operation projects.

Until the 2022 government budget was finalized, Gyeonggi Province selected and discovered major projects and continuously requested support from central government ministries. It also held luncheon meetings and budget policy conferences with the Democratic Party and People Power Party, as well as National Assembly Budget and Accounts Committee members, and visited regional National Assembly members in person to provide customized materials for each area, making various efforts to request national budget support.

In particular, the province made an all-out effort to increase the regional currency project budget, which had been significantly cut compared to the previous year, ultimately securing 14 billion won, an increase of approximately 8.4 billion won from the government's initial budget of approximately 5.6 billion won.

With this, the nationwide regional currency issuance is expected to reach 15 trillion won next year.

Gyeonggi Province had appealed to the National Assembly for an increase in regional currency budget citing reasons such as resolving consumption contraction due to the continued COVID-19 pandemic and revitalizing small businesses and alley shops in the region.

Additionally, the province also secured increased overall social overhead capital (SOC) budget, with railway and road projects at the center, rising from 41.697 trillion won in 2021 to 44.073 trillion won in 2022, an increase of 23.76 billion won.

Representative projects include ▲Seoul Metropolitan Area Express Railway Line A (Paju~Samsung) 33.09 billion won ▲Guri~Anseong (Seoul-Sejong) Expressway 67.06 billion won ▲Seoul Metropolitan Area Second Circular (Gimpo-Paju) Expressway 18.25 billion won.

Health and welfare budget entered the 90 trillion won era, increasing from 89.183 trillion won in 2021 to 91.419 trillion won in 2022, supported by Gyeonggi Province's population growth and expansion of national welfare policies.

Representative projects include ▲Medical assistance 14.223 trillion won ▲Basic pension 28.901 trillion won ▲Basic livelihood allowance 9.14 trillion won.

Choi Won-yong, Director of Planning and Coordination for Gyeonggi Province, stated, "There is no difference between ruling and opposition parties for Gyeonggi Province's development, and thanks to the efforts of Gyeonggi Province's National Assembly members who worked to secure national budget, we have secured a record-high national budget," and added, "We will make our utmost efforts to swiftly execute the national budget we have secured with great difficulty and maximize policy effectiveness."