Ministry of Public Administration and Security "actively Respond to the Acquisition of Local Bonds" for the 2nd consecutive year.

The Ministry of Public Administration and Security announced that it will actively support financial management, including the acquisition of local bonds, in connection with the sharp reduction in local grant taxes due to national tax deficits.

The Ministry of the Interior and Safety held an emergency meeting with the heads of planning and coordination offices across the country to share the reduction in local grant taxes, and requested that local governments use available resources first and actively restructure their expenditures, but to proceed with projects to support people's livelihoods and vulnerable groups without a hitch.

Then, the government said it will come up with support measures, including the acquisition of local bonds, for local governments that are suffering from the insolvency of local grant taxes for two consecutive years.

To this end, the Ministry of Public Administration and Security will actively operate a "Local Financial Cooperation Support Group" led by the head of the local finance bureau, check and consult with related ministries, including financial authorities, and closely consult on the current status and response of available resources.