State budget discussed at session of DPRK Supreme People's Assembly
KCNA
Pyongyang, March 26 (KCNA) -- The 6th session of the tenth Supreme People's Assembly of the Democratic People's Republic of Korea held at the Mansudae Assembly Hall in Pyongyang on March 26 discussed the summing up of the state budget for Juche 91 (2002) and the state budget for Juche 92 (2003).
Minister of Finance Mun Il Bong made a report on this agenda item.
He said:
The gross industrial output value last year increased 12 percent as compared with 2001.
Last year's state budgetary revenue was fulfilled at 100.5 percent as compared with the planned target while the state budgetary expenditure was carried out at 99.8 percent as compared with the plan.
14.9 percent of last year's total state budgetary expenditure was spent for increasing the country's defence capability. And funds accounting for 22.7 percent of the total state budgetary expenditure were channelled into different domains of the national economy.
The state budgetary revenue for this year is expected to grow 13.6 percent as against last year. The budgetary revenue envisages taking a step for issuing bonds for the people's life with a view to making an effective use of money to spare.
The total state budgetary expenditure will increase 14.4 percent as compared with last year.
This year's master plan for state budgetary expenditure was worked out on the principle of giving priority to the development of the national defence industry, while simultaneously developing the light industry and agriculture as required by the era of the army-based policy.
15.4 percent of this year's total state budgetary expenditure will be allocated for military spending to develop the national defence industry, train the people's army as an invincible army and thus reinforce the country's defences as an impregnable fortress.
Allocations of funds for different fields will significantly increase over last year: 12.8 percent for power industry, 21.3 percent for agriculture, 12.4 percent for light industry, 15.7 percent for the scientific and technological development and 15.3 percent for education.
A large amount of money will be sent to the children of Koreans in Japan this year, too, as educational aid fund and stipends.
