October 01, 2020
KCNA Rodong Sinmun (En)

Implementation of State Budget for Juche 108 (2019) and State Budget for Juche 109 (2020)

Date: 13/04/2020 | Source: Rodong Sinmun (En) | Read original version at source

The state budget for Juche 108 (2019) was successfully implemented according to the state budgetary report submitted to the 3rd Session of the 14th Supreme People's Assembly(SPA).

Last year the source of the budgetary revenue was actively increased to provide a financial guarantee for augmenting the independent and Juche character of the national economy, and huge allocation of the budget was made for displaying the advantages of the Korean-style socialist system including the advancement of key construction projects and development of science, technology, education and public health.

Last year the state budgetary revenue was implemented at 101.5 percent, 5.3 percent increase as against the previous year.

Lots of industrial establishments over-fulfilled their state budgetary payment quotas, and provinces, cities and counties made active efforts to manage their own economic life with their own efforts while exploiting their natural and geographical characteristics and preserving the specific features of the local economy. As a result, the plans for local budgetary revenue were implemented at 100.6 percent.

The state budgetary expenditure last year was executed at 99.8 percent.

15.8 percent of the total expenditure was earmarked for increasing the capability of national defence, contributing to development of ultra-modern weaponry system and modernization of munitions production processes.

47.7 percent of the total expenditure went to the development of the national economy for opening up the route of advance of the socialist construction by dint of self-reliance. This helped increase the generation of electricity, prop up the coal industry and step up the drive of putting metal industry and chemical industry on a Juche basis. This also contributed to developing agriculture, fishery and light industrial fields which are of vital significance in improving the standard of people's living.

Investment in the field of science and technology has increased 8.7 percent as against the previous year, thereby making science, technology and production an integrated whole and propelling the efforts to turn the country's economy into the knowledge-based one.

The state investment in the construction field has shown 5.9 percent increase as compared with the previous year, financially underpinning the advancement of key construction projects.

36.3 percent of the total expenditure was spent for improving the educational conditions and environment, consolidating the material and technological foundation of the public health and developing socialist culture including sports, art and literature our own way.

There were some drawbacks in executing the state budget last year.

The shortcomings teach a serious lesson that the officials in charge of the economic guidance would not be able to ensure the state unified guidance and strategic management of the economic affairs and that the overall economy would stop short of making a dynamic advance unless they provide revolutionary operation and command from the stand of taking responsibility for their revolutionary tasks before the Party and the people.

The report said that this year we face a heavy task to ensure the closely coordinated economic operation and organization with a view to making the effective use of existing economic foundation true to the important tasks set forth at the 5th Plenary Meeting of the 7th Central Committee of the Workers' Party of Korea, and thus strengthen the state finance and guarantee the responsible provision of funds needed for the economic development and the betterment of the people's living. The report went on:

The revenue and expenditure of the state budget for this year were organized with a view to financially guaranteeing our people's drive to make a break-through head-on for further consolidating the foundation of the self-supporting national economy, stepping up the construction of socialist civilization and increasing the capability of national defence, by adjusting and reinforcing the economy as a whole and concentrating investment in the training of talents and developing science and technology.

The state budgetary revenue is expected to grow 4.2 percent more from last year, out of which the transaction tax, a key source of the budgetary revenue, is to grow 1. 1 percent and the revenue from the profits of state enterprises, another main source of the state budgetary revenue, is to grow 1.2 percent to account for 83.2 percent of the total revenue.

The revenue from the profits of cooperative enterprises is expected to be executed at 100.4 percent, that from real estate rent at 100.1 percent, that from social insurance at 100 percent, that from property sale and price differences at 100.3 percent, that from other sources at 100.2 percent and that from the special economic zones at 100.3 percent. From this year the revenue from the state-invested fixed asset depreciation is to be included in the state budget.

Out of the state budgetary revenue, the budgetary revenue from centrally-run economic field will hold 74. 3 percent and therefore, the revenue from the centrally-run economy would hold a dominating proportion. The provinces, cities and counties would cover expenditure with their own revenue and contribute lots of funds to the centrally-run budget.

The state budgetary expenditure is expected to grow 6 percent as against the previous year.

6.2 percent more fund than last year is to be allocated for economic construction and 47.8 percent of the total expenditure is to be directed to the field.

The expenditure for the fields of the national economy including metal, chemical, electrical power, coal, machine and building materials industries, railway transport, light industry, agriculture and fishery will be increased to be 107.2 percent.

Funds needed for pushing forward key construction projects whose completion is due by this year including Pyongyang General Hospital and installation of an oxygen separator of the Kim Chaek Iron and Steel Complex are to be provided as planned.

The investment in the field of science and technology is to stand at 109. 5 percent.

Popular policies fund is to be expended to be 105.1 percent in the educational field and 107.4 percent in the public health field as compared with last year. Social and cultural work fund is also to be spent to bring the growth of 5.8 percent in the field of art and literature and the growth of 4.3 percent in the sports field.

15.9 percent of the total state budgetary expenditure is expected to be spent for national defence.

This year a large amount of educational aid fund and stipends will be sent for the children of Koreans in Japan to propel the development of the democratic national education of the General Association of Korean Residents in Japan.

The report said that this year's state budget would be successfully executed so as to financially support the all-people drive for materializing the aspiration and ideal of building a powerful socialist country, under the strategic plan of the WPK.

More From Rodong Sinmun (En)

Rice Harvest at Its Height in Taechong-ri, Unpha County

Rice Harvest at Its Height in Taechong-ri, Unpha County

Rice fields are harvested full tilt and a good rice crop is reaped in Taechong-ri, Unpha County, North Hwanghae Province. This was

Rodong Sinmun (En) September 30, 2020

Rice fields are harvested full tilt and a good rice crop is reaped in Taechong-ri, Unpha County, North Hwanghae Province. This was

18th Meeting of Political Bureau of 7th Central Committee of WPK Held

18th Meeting of Political Bureau of 7th Central Committee of WPK Held

The 18th meeting of the Political Bureau of the 7th Central Committee of the Workers' Party of Korea (WPK) took place at the

Rodong Sinmun (En) September 30, 2020

The 18th meeting of the Political Bureau of the 7th Central Committee of the Workers' Party of Korea (WPK) took place at the

To Achieve Triumph as Soon as Possible

To Achieve Triumph as Soon as Possible

Thanks to its reconstruction, the flood-wrecked area of Hongwon County has changed beyond recognition. Much time has not passed

Rodong Sinmun (En) September 30, 2020

Thanks to its reconstruction, the flood-wrecked area of Hongwon County has changed beyond recognition. Much time has not passed

Meeting of Osaka Headquarters of Chongryon

Meeting of Osaka Headquarters of Chongryon

The 3rd Meeting of the 24th Executive Committee of the Osaka Prefectural Headquarters of the General Association of Korean

Rodong Sinmun (En) September 30, 2020

The 3rd Meeting of the 24th Executive Committee of the Osaka Prefectural Headquarters of the General Association of Korean

3rd Meeting of 30th Central Committee of UDKWJ Held

3rd Meeting of 30th Central Committee of UDKWJ Held

The 3rd Meeting of the 30th Central Committee of the Union of Democratic Korean Women in Japan (UDKWJ) was held at the Korean Hall

Rodong Sinmun (En) September 30, 2020

The 3rd Meeting of the 30th Central Committee of the Union of Democratic Korean Women in Japan (UDKWJ) was held at the Korean Hall

Founding Anniversary of Sariwon University of Geology Marked

Founding Anniversary of Sariwon University of Geology Marked

Sariwon University of Geology greets its 50th founding anniversary. The university is a trustworthy base for producing geological

Rodong Sinmun (En) September 29, 2020

Sariwon University of Geology greets its 50th founding anniversary. The university is a trustworthy base for producing geological

"Complete Collection of Kim Jong Il's Works" Vol. 32 Published

The Workers' Party of Korea Publishing House brought out "Complete Collection of Kim Jong Il's Works" vol. 32 carrying Chairman

Rodong Sinmun (En) September 29, 2020

The Workers' Party of Korea Publishing House brought out "Complete Collection of Kim Jong Il's Works" vol. 32 carrying Chairman

To Send More Cement to Reconstruction Sites

To Send More Cement to Reconstruction Sites

The officials and workers of the Manpho August 2 Cement Factory increase the production of cement to help toward rebuilding the

Rodong Sinmun (En) September 29, 2020

The officials and workers of the Manpho August 2 Cement Factory increase the production of cement to help toward rebuilding the

Kim Tok Hun Inspects Farms in South Hwanghae Province

Kim Tok Hun Inspects Farms in South Hwanghae Province

Kim Tok Hun, member of the Presidium of the Political Bureau of the Central Committee of the Workers' Party of Korea and premier

Rodong Sinmun (En) September 29, 2020

Kim Tok Hun, member of the Presidium of the Political Bureau of the Central Committee of the Workers' Party of Korea and premier

The Way They Fulfilled the Quotas of Yearly National Economic Plan

The Way They Fulfilled the Quotas of Yearly National Economic Plan

The Samchong Mine of the Sangwon Cement Complex carried out its yearly national economic plan by mid-September ahead of schedule.

Rodong Sinmun (En) September 29, 2020

The Samchong Mine of the Sangwon Cement Complex carried out its yearly national economic plan by mid-September ahead of schedule.

Production of Household Electric Appliances Stepped Up

Production of Household Electric Appliances Stepped Up

The Kyongsong Insulator Factory turned out thousands of household electric appliances in a short time and supplied them to the

Rodong Sinmun (En) September 29, 2020

The Kyongsong Insulator Factory turned out thousands of household electric appliances in a short time and supplied them to the

The Reclaimed Tideland Realigned Well

The Reclaimed Tideland Realigned Well

Networks of facilities are built full steam in the tidelands reclaimed by building dykes from the shores of the West Sea of Korea

Rodong Sinmun (En) September 29, 2020

Networks of facilities are built full steam in the tidelands reclaimed by building dykes from the shores of the West Sea of Korea

Innovations Made in Production of Various Paints

Innovations Made in Production of Various Paints

The Anju Insulating Material Factory produced tens of tons of paints of diverse sorts and provided them to the flood-wrecked areas

Rodong Sinmun (En) September 29, 2020

The Anju Insulating Material Factory produced tens of tons of paints of diverse sorts and provided them to the flood-wrecked areas

Saplings of Good Breeds Produced

Saplings of Good Breeds Produced

The central tree nurseries of the Ministries of Land and Environment Protection and Urban Management register success after

Rodong Sinmun (En) September 28, 2020

The central tree nurseries of the Ministries of Land and Environment Protection and Urban Management register success after

Ryanggang Provincial Old People's Home Newly Built

Ryanggang Provincial Old People's Home Newly Built

Ryanggang Provincial Old People's Home was newly built at the shore of picturesque Lake Samsu. The home is a two-storeyed

Rodong Sinmun (En) September 28, 2020

Ryanggang Provincial Old People's Home was newly built at the shore of picturesque Lake Samsu. The home is a two-storeyed

Offensive Agitprop Rousing People to Perform Feats

Offensive Agitprop Rousing People to Perform Feats

An agitprop offensive is vigorously going on in Ichon and Cholwon counties and many other flood-hit areas of Kangwon Province

Rodong Sinmun (En) September 28, 2020

An agitprop offensive is vigorously going on in Ichon and Cholwon counties and many other flood-hit areas of Kangwon Province

Supreme Leader Kim Jong Un Sends Birthday Spread to Woman Centenarian

Supreme Leader Kim Jong Un Sends Birthday Spread to Woman Centenarian

Supreme Leader Kim Jong Un sent a birthday spread to Kim Song Ok, a centenarian living in the township of Jaeryong County, South

Rodong Sinmun (En) September 27, 2020

Supreme Leader Kim Jong Un sent a birthday spread to Kim Song Ok, a centenarian living in the township of Jaeryong County, South

Pak Pong Ju Inspects Industrial Establishments

Pak Pong Ju Inspects Industrial Establishments

Pak Pong Ju, member of the Presidium of the Political Bureau of the Central Committee of the Workers' Party of Korea,

Rodong Sinmun (En) September 27, 2020

Pak Pong Ju, member of the Presidium of the Political Bureau of the Central Committee of the Workers' Party of Korea,

More Articles