Report on State Budget Delivered at DPRK SPA Session

Pyongyang, April 11 (KCNA) — The 3rd Session of the 11th Supreme People’s Assembly of the DPRK was held at the Mansudae Assembly Hall here today.

Deputy Mun Il Bong, minister of Finance, delivered a report on the second agenda item “On the results of the implementation of the state budget for Juche 93 (2004) and the state budget for Juche 94 (2005)”.

Reviewing the implementation of the state budget for last year, the minister said that the state preferentially allocated funds for the increase of the military strength while providing money for prosperity and development of the socialist country and the promotion of the people’s wellbeing, including the spending for the national economy and popular policies.

In order to cope with the more frantic moves of the U.S.-led imperialists to isolate and stifle the DPRK, the DPRK government allotted 15.6 per cent of its total budgetary expenditure as military spending, thus boosting the independent and modern defense industry, augmenting the combat power of the People’s Army in every way and firmly defending the dignity and sovereignty of the country, the reporter noted, and continued:
Last year 41.3 per cent of the total state budgetary expenditure was allocated to the national economy and 40.8 per cent of it to social and cultural fields, thereby developing the nation’s economy and successfully carrying out the socialist cultural construction.

The 2004 state budgetary expenditure was executed at 99.3 per cent.

The state budget for this year has been drawn up in such a way as to keep the balance between revenue and expenditure to sufficiently finance the general march for the Songun revolution called for by the Workers’ Party of Korea.

The state budgetary revenue for this year will increase 15.1 per cent over the previous year.

The new state budget envisages a 13.5 per cent rise in revenue from the profits of the state enterprises, the main source of budgetary revenue, and an 8.4 per cent increase in revenue from profits of the cooperatives and a 3 per cent growth in revenue from social insurance over the previous year.

A considerable increase is expected in the local budgetary revenue, too.

The revenue from the profits of the state enterprises will be markedly boosted to ensure the 2005 state budgetary revenue. In the meantime, factories of large-scale key industries and the light industry will radically increase their production and all local areas and other units conduct diverse production and services in keeping with their specific conditions to raise the revenue.

The total expenditure will be raised 11.4 per cent over the previous year, true to the Party’s intention to speed up the building of a great prosperous powerful nation and improve the standard of the people’s living.

The state will allocate 15.9 per cent of the total state budgetary expenditure as military spending with a view to bolstering the People’s Army, developing the defence industry and implementing to the letter the Party’s policy of placing all the people under arms and turning the whole country into a fortress.

A large financial disbursement will be made for different fields of the national economy to sharply increase the production at industrial sector as a whole.

29.1 per cent more funds than the previous year will be invested in agriculture so that all efforts of the country can be directed to decisively solving the people’s food problem.

This year more funds will be earmarked for the capital construction, land management and city management. It will help spruce up Pyongyang, the capital city of revolution, and other cities and rural areas and build more monumental edifices to glorify the era of Songun.

A 14.7 per cent bigger financial allocation than last year will be made for science and technology to accelerate the process of putting all fields of economy on a modern and IT basis.

10.3 per cent more funds than last year will be spent for more successfully implementing the popular policies such as the compulsory free educational system and the free medical care system.

This year, too, the state will provide a huge amount of educational aid fund and stipends to the Korean children in Japan to help the General Association of Korean Residents in Japan (Chongryon) develop the democratic national education.

The tasks facing the Korean people this year are difficult and vast, but they are sure to emerge victorious as there are the great Songun politics of the WPK, the single-minded unity of all the servicepersons and people around the headquarters of revolution and the strong potentials of the independent national economy, the reporter concluded.

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