In 2023, defense spending accounted for 15.9% of the Democratic People's Republic of Korea's (DPRK) total budget, state media KCNA said, citing Finance Minister Ko Jong Bom at the 10th Session of the 14th Supreme People's Assembly.

"All sectors and units of the socialist economic construction provided the funds amounting to 100.8 percent, as compared with 2022, for a new upsurge while consolidating the growth level," emphasized Ko.

Ko highlighted that the 2023 budgetary revenue was fulfilled at 100.5%, marking a 101.5% increase over the previous year. Industrial entities in the economic sector met the plan for central budgetary revenue by 100.6%, and the plan for regional budgetary revenue by 100.3%.

Furthermore, 24.4% of the total budget expenditure was directed towards consolidating the self-supporting economy. This involved efforts focused on readjusting and reinforcing major industrial sectors, such as metal, chemical, electric power, coal, and machine-building industries, along with expanding their production capacity.

Also, KCNA reported that 36.8% of the total expenditure was utilized for the social and cultural sector. The objective was to contribute to implementing the Party's childcare policy and making progress in education, health care, sports, and culture.

DPRK abolishes departments dealing with inter-Korean cooperation

On Tuesday, KCNA reported that the Supreme People's Assembly of North Korea has chosen to abolish government entities responsible for handling inter-Korean affairs.

"The reunification of Korea can never be achieved with the Republic of Korea … Recognizing the stark historical reality and branding the ROK as the state most hostile to the DPRK, the Supreme People’s Assembly of the DPRK decided as follows … The Committee for the Peaceful Reunification of the Country, the National Economic Cooperation Bureau, and the Kumgangsan International Tourism Administration, tools which existed for north-south dialogue, negotiations, and cooperation, are abolished," the Supreme People's Assembly said in a statement, as quoted by the news agency.

According to the KCNA news agency, leader Kim Jong Un stated on Monday that the DPRK is not eager to initiate a war but will not shy away from it either. He emphasized that any violation, even by 0.001 mm, of their territorial land, air, and waters by South Korea would be regarded as a provocative act of war.

This comes after the DPRK leader affirmed that Pyongyang intends to "annihilate" South Korea should its army violate the DPRK's sovereignty. 

"If the ROK dares attempt to use armed forces against the DPRK or threaten its sovereignty and security and such opportunity comes, we will have no hesitation in annihilating the ROK by mobilizing all means and forces in our hands," Kim said.

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