North Korea's Supreme People's Assembly(SPA) will reportedly hold a meeting next month to discuss next year's budget and other issues.

The North's official Korean Central News Agency(KCNA) said on Wednesday that the standing committee of the SPA decided the previous day to convene the eighth session of the 14th SPA on January 17 in Pyongyang.

The KCNA said that the planned meeting will discuss state budgets and projects for next year as well as organizational matters.

The registration of delegates for the meeting is scheduled for January 16.

The Supreme People's Assembly is nominally the highest law-making body under the North Korean constitution but effectively functions as a rubber-stamp parliament.