The top of Mansudae Assembly Hall in central Pyongyang where the Supreme People’s Assembly meets (Photo: NK Leadership Watch file photo).
The Supreme People’s Assembly [SPA] Presidium held its 9th plenary session [plenum] at Mansudae Assembly Hall in Pyongyang on March 30 (Thursday). Attending the meeting were SPA Presidium members and DPRK Government officials. The plenary session discussed and adopted measures on the state budgets for 2015 and 2016. Typically the state budget is discussed and implemented during a regular full session of the SPA (usually held in April). Due to the convocation of the 7th Workers’ Party of Korea Congress in May, the regular SPA meeting has been postponed until after the party congress.
According to the report disseminated and read out during the SPA Presidium session:
The state budget for last year was correctly carried out.
The plan for state budgetary revenue was over-fulfilled 1.3 percent or an increase of 5 percent over the previous year.
The plan for local budgetary revenue was fulfilled at 113.8 percent while that for state budgetary expenditure was carried out at 99.9 percent.
15.9 percent of the total expenditure was allocated for national defense while 47.5 percent for building an economic power and the improvement of the standard of people’s living.
Investment in the fields of science and technology showed a 4.7 percent increase over that last year.
36.6 percent of the total expenditure was earmarked for cultural construction including education, public health, sports and literature and arts.
The state budgetary revenue for this year is expected to go up 4.1 percent out of which transaction revenue will hold 3.3 percent, the revenue from the profits of state enterprises 4.5 percent, the revenue from the profits of cooperative enterprises 1.5 percent, that from real estate rent 4 percent, that from social insurance 1.1 percent, that from the sale of properties and price difference 2.5 percent and other revenue 1.3 percent. The revenue from economic trade zone is expected to grow 4.1 percent.
Out of the state budgetary revenue the national budgetary revenue will account for 76.8 percent while that from local areas 23.2 percent.
The state budgetary expenditure is expected to go up 5.6 percent over last year out of which 4.8 percent will go to industries, 4.3 percent to agriculture, 6.9 percent to fisheries, 13.7 percent to capital construction and 7.5 percent to forestry.
It was decided to increase expenditure in the field of science and technology 5.2 percent, the field of education 8.1 percent, the field of public health 3.8 percent, the field of sports 4.1 percent and the field of culture 7.4 percent.
15.8 percent of the total expenditure will be spent for national defense.
A large amount of educational aid fund and stipends will be sent for the education of Korean children in Japan.