▲ Vice Minister of Planning and Budget Lim Ki-geun presides over the 11th Fiscal Execution Review Meeting at the Government Complex Sejong on the afternoon of June 12.
The government has assessed that it is on track to meet its first-half execution targets for public sector rapid budget disbursement and priority-managed budgets.
The Ministry of Planning and Budget reported that Vice Minister Lim Ki-geun shared this assessment during the 11th inter-ministerial fiscal execution review meeting held at the Government Complex Sejong on June 12.
As of June 5, the rapid execution performance for the public sector (fiscal, public institutions, and private investment) reached a total of 348.4 trillion won based on the main budget, recording an execution rate of 53.0%.
The target for the first half of the year is 60.2%.
The government explained that projects under priority management have disbursed a total of 22.2 trillion won (an execution rate of 64.4%), proceeding smoothly toward the first-half target of 70%.
Regarding the supplementary budget, 7.4 trillion won (71%) out of the 10.5 trillion won subject to rapid execution management has been disbursed.
The government stated that it is strengthening execution management across all ministries to ensure that the effects of the supplementary budget, such as responses to high oil prices, can be felt quickly.
For the high oil price damage support funds within the supplementary budget, 4.7 trillion won (99%) of the 4.8 trillion won in state funding had been disbursed as of May.
As of May 28, the cumulative number of applicants reached 32.38 million, with 5.7 trillion won in payments made (including local government funds).
Vice Minister Lim stated, "Thanks to the efforts of each ministry, fiscal execution is generally showing a positive trend," and urged, "Please continue to manage the process until the end to ensure that the execution plan is implemented without setbacks for the remainder of the period."
He also added, "Please ensure thorough follow-up management, such as continuously monitoring bottlenecks for each project and resolving procedural hurdles, so that the effects of fiscal support can be felt in the lives and daily routines of the public."
(Photo: Provided by the Ministry of Planning and Budget, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.