At fiscal crisis response briefing
Guri city held a fiscal crisis response briefing Friday to lay the groundwork for sustainable fiscal management and overcome its difficult financial situation.
The briefing outlined four measures to address the crisis: a comprehensive review of expenditure budgets and carried-over projects, active identification of new non-tax revenue sources, a phased adjustment of public utility rates including water and sewage fees and pay-per-bag garbage bag prices, and stronger collection of local tax and non-tax arrears.
To that end, the city plans to form a sound-finance task force targeting at least 50 billion won ($33.2 million) in a supplementary budget for the second half of 2026 and at least 100 billion won in the main budget for 2027.
The funds will go toward essential fiscal needs the city must prioritize, such as statutory and mandatory expenditures. However, welfare budgets directly tied to residents' daily lives will not be cut during the fiscal streamlining process.
"To overcome the fiscal crisis, it is most important to boldly reduce unnecessary administrative costs and use limited resources more efficiently," Guri Mayor Shin Dong-hwa said. "Through fiscal innovation, we will navigate the current crisis and press ahead without wavering on projects that are truly necessary for our citizens."
pjh@heraldcorp.com
