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SPA Session Discusses State Budget

Korean Central News Agency of DPRK

    Pyongyang, March 25 (KCNA) -- The Second Session of the 11th Supreme People's Assembly of the DPRK held at the Mansudae Assembly Hall on March 25 discussed the fulfillment of the state budget for Juche 92 (2003) and the state budget for Juche 93 (2004). Finance Minister Mun Il Bong delivered a report on this.
    He said:
    The planned state budgetary revenue for last year was fulfilled at 100.9 per cent.
    Last year all the people bought public bonds for people's life with the high consciousness of being citizens and patriotism. As a result, a large revenue from the public bonds was added to the state budget and not a small amount of funds were donated to the state.
    The planned state budgetary expenditure was fulfilled at 98.2 per cent last year.
    The government spent 15.7 per cent of the total budgetary expenditure for the defence industry and 23.3 per cent for the national economy.
    40.5 per cent of the total budgetary expenditure was spent for carrying out various popular policies for the promotion of the people's welfare.
    This year's state budgetary revenue is expected to increase 5.7 per cent over the previous year. The profits of state enterprises are expected to go up 16.5 per cent over the previous year and those of cooperative organizations and others are envisaged to markedly swell.
    This year's state budgetary expenditure is expected to increase 8.6 per cent over last year to sufficiently meet the financial demands for conducting a general offensive on the three fronts of building a great prosperous powerful nation and implementing the Party's line of economic construction in the Songun era to the letter.
    The government earmarked 15.5 per cent of this year's state budgetary expenditure for the defence industry with a view to completing the combat preparations of the People's Army, increasing the independence of the defence industry, stepping up modernization and informationalization and thus consolidating the country's defences as firm as an iron wall.
    In order to reenergize the nation's economy as a whole this year the government will allocate huge funds for the fields of the national economy so as to keep the production in the mining, machine-building, chemical and building materials industries and forestry going at a steady rate and effect a new productive upswing in the light industry and the rural economy while channeling main efforts into the power, coal and metal industries and the railway transport.
    This year more funds will go to the fields of city management and land and environmental protection than last year. 1.6 times more funds than last year will be earmarked for the development of science and technology including ultra-modern science, basic science and applied science.
    Financial allocations for additional measures in this year's state budget will increase 8.1 percent over last year. Disbursement for education and public health will go up 9.5 per cent and 5.9 per cent respectively in the same period.
    This year, too, a large amount of educational aid fund and stipends will be sent to the children of the Koreans in Japan for the development of the democratic national education of the General Association of Korean Residents in Japan.

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