According to the report, the state budgetary revenue last year was over-fulfilled by 1.3 percent, an increase of 10.1 percent over the previous year.

The plan for local budgetary revenue was carried out at 113.8 percent.

The state budgetary expenditure was implemented at 99.6 percent, an increase of 9.7 percent over that in the previous year.

44.8 percent of the total state budgetary expenditure for the economic development and improvement of people's living standard was used for funding the building of edifices to be presented to the 100th birth anniversary of President Kim Il Sung, the consolidation of the material and technological foundation of Juche-based, modern and self-supporting economy and the work for face-lifting the country.

38.9 percent of total expenditure was spent for enforcing popular policies and measures for social culture under socialism such as the universal free compulsory education system, free healthcare, social insurance and social security, recuperation and relaxation systems as well as those for development of literature and art and building of a sports power.

Some of the total state budgetary expenditure went to national defence.

According to the report, this year's state budgetary revenue and expenditure have been shaped in such a way as keeping the overall economy afloat and bringing about a decisive turn in stabilizing and improving the standard of people's living.

The state budgetary revenue is expected to increase 4.1 percent over that last year.

Out of this, the transaction tax, main source of budgetary revenue, is expected to grow 3.5 percent, the revenue from the profits of state enterprises 6 percent, revenue from the profits of cooperative enterprises 5.3 percent, the revenue from the depreciation 2.8 percent and revenue from real estate rent 3.4 percent.

In the total state budgetary revenue, national budgetary revenue will account for 83 percent and local budgetary revenue 17 percent.

Provinces, cities and counties are envisaged to ensure expenditure with local import and put a huge amount of fund into national budget.

The state budgetary expenditure is expected to grow 5.9 percent over last year.

It was decided to increase expenditure in the field of coal, electricity, metal and railway transport 7.2 percent, the field of agriculture and light industry 5.1 percent, basic investment in capital construction and big overhaul 5.8 percent, the field of science and technology 6.7 percent, the field of education 6.8 percent, the field of public health 5.4 percent, the field of social insurance and security 3.7 percent, the field of sports 6.1 percent and the field of culture 2.2 percent.

Some of the total state budgetary expenditure will go for national defence.

A large amount of educational aid fund and stipends will be sent for the education of Korean children in Japan to promote the development of the democratic national education of the General Association of Korean Residents in Japan.

The reporter called for working hard to glorify this significant year marking the 65th anniversary of the DPRK and the 60th anniversary of the victory in the Fatherland Liberation War as a year of gigantic creation and innovations, in hearty response to the historic New Year Address by Kim Jong Un and the decision made at the March, 2013 plenary meeting of the WPK Central Committee.