January 20, 2022
KCNA KCNA.kp (En)

SPA Session Discusses State Budget

Date: 12/04/2019 | Source: KCNA.kp (En) | Read original version at source

Pyongyang, April 12 (KCNA) -- At the First Session of the 14th Supreme People's Assembly (SPA) of the DPRK, Deputy Ki Kwang Ho made a report on summing up of the fulfillment of the state budget of the DPRK for Juche 107 (2018) and its state budget for Juche 108 (2019) that had been put under full deliberation at the SPA Budget Committee.

According to the report, the plan of state budgetary revenue for last year was successfully fulfilled at 101.4 percent, 4.6 percent increase over the previous year.

The plan for local budgetary revenue was fulfilled at 100.5 percent.

The plan for state budgetary expenditure last year was carried out at 99.9 percent.

47.6 percent of the total expenditure was spent for the development of the national economy, contributing to developing the capacity of power generation, expanding the success made in putting the metallurgical industry and chemical industry on a Juche basis, increasing the coal and grain production and improving the quality of various kinds of vehicles and light industrial products.

State investment in key projects of the country was increased by 4.9 percent over last year to financially support such main projects of the country as sprucing up Samjiyon County, building the Wonsan-Kalma coastal tourist area and the Orangchon and Tanchon power stations and setting up modern tree nurseries in provinces.

Investment in the sci-tech field was increased by 7.4 percent over last year, contributing to producing research findings propelling the sci-tech development and activating national economy.

36.4 percent of the total expenditure was earmarked for comprehensively developing the socialist culture, contributing to improving the condition and environment of education and developing public health, sports and literature and arts.

15.8 percent of the total expenditure went for firmly increasing the country's defense capabilities, contributing to boosting the combat capabilities of the revolutionary army and modernizing the Juche-oriented production structure and process of the munitions industry.

The reporter said that this year we face an important task of providing in a responsible way the funds necessary for opening up a firm prospect for a step forward in socialist construction by expanding and strengthening the national independent development capacity true to the Party's militant appeal "Let us open a new road of advance for socialist construction under the uplifted banner of self-reliance!".

According to the report, the state budgetary revenue and expenditure for this year was shaped in such a way as to financially support the Korean people in their struggle for further strengthening the might of the self-supporting socialist economy, attaining socialist civilization and firmly increasing the national defence capabilities by adjusting and reinforcing the overall national economy and focusing investment on the training of talents and development of science and technology.

The state budgetary revenue for this year is expected to grow 3.7 percent over last year. Among them transaction tax, key item of budgetary revenue, is expected to swell 4.1 percent, and the profits from state-run enterprises 4.3 percent, to account for 85.7 percent of total budgetary revenue. The benefits from cooperative units are envisioned to grow 1.1 percent, real estate rental fee 0.3 percent, social insurance fee 0.2 percent, income from property sale and price fluctuation 0 percent, income from other sources 0.5 percent and that from economic trade zone 1.6 percent respectively.

The central budgetary revenue will account for 73.9 percent of the state budgetary revenue. Here, the revenue from state-run economy will hold an absolute proportion, and provinces, cities and counties are supposed to cover expenditure with their own revenue and to contribute lots of funds to the central budget.

The state budgetary expenditure for this year will grow 5.3 percent over last year.

The funds for economic construction were increased 5.4 percent over last year, which amount for 47.8 percent of the total budgetary expenditure.

The investment in the sci-tech field will increase by 8.7 percent to spur training of talents and sci-tech development and expenditure for the national economy including power, coal, metal, chemical industries, railway transport, agriculture, fishery and light industry by 5.7 percent.

The state budgetary expenditure for important construction projects and second-stage forestation campaign will increase by 6.6 percent, which include the reconstruction of the "Hall of Great Leaders and Comrades-in-Arms" in the Korean Revolution Museum, sprucing up of Samjiyon County as an iconic mountainous city of modern civilization and socialist utopia and construction of the Wonsan-Kalma coastal tourist area, Sunchon Phosphate Fertilizer Factory, hot-spring tourist area in Yangdok County, Onpho Greenhouse Farm, Orangchon Power Station, Tanchon Power Station and second-stage construction of the South Hwanghae Province Waterway.

Expenditure for people-oriented policies will increase 5.5 percent for education and 5.8 percent for public health and expenditure for social and cultural work 4.1 percent for literature and arts and 4.5 percent for sports over last year.

15.8 percent of the total budgetary expenditure will go to national defence. 

A lot of educational aid fund and stipends will be sent for Korean children in Japan this year, too, to keep propelling the development of democratic national education of the General Association of Korean Residents in Japan.

The reporter stressed that successful implementation of the state budget for this year for a step forward in socialist construction will offer financial support for the work for the prosperity and development of the socialist country. -0-

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