South Korea records a fiscal deficit of $69.4 billion as of September
SEOUL, November 15 (WAM) – The South Korean Ministry of Finance announced on Saturday that the country’s fiscal deficit exceeded 102 trillion won (69.4 billion US dollars) in the first nine months of this year.
South Korea’s Yonhap News Agency quoted data from the Ministry of Economy and Finance that the managed fiscal balance, which is a more stringent measure of financial safety, recorded a deficit of 102.4 trillion won in the aforementioned period.
This figure represents the second largest deficit recorded for the January-September period after 2020, according to the ministry.
Total revenue saw a growth of 41.4 trillion won compared to the same period last year, reaching 480.7 trillion won.
In detail, tax revenues increased by 34.3 trillion won year-on-year to 289.6 trillion won, and total expenditures increased by 51.9 trillion won to 544.2 trillion won.
won.
The government had previously expected the deficit to meet the original annual target of about 111.6 trillion won by the end of the year.
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