Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
Medical reform committee kicks off despite boycott from doctors
-
3
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
4
DP leader says he will meet Yoon without conditions
-
5
Over 9,000 hotline calls made by stalking victims in 2023
-
6
[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
![[Hello India] Hyundai Motor vows to boost 'clean mobility' in India](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/25/20240425050672_0.jpg&u=)
-
7
US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
-
8
Monthly users on local streaming platforms outpace Netflix, Disney+
-
9
NewJeans fans send protest truck against agency chief in conflict with Hybe
-
10
Seoul to promote luxurious side of the city
![[Hello India] Hyundai Motor vows to boost 'clean mobility' in India](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/25/20240425050672_0.jpg&u=)
South Korea's national debt surpassed the 1,000 trillion won ($781.07 billion) mark for the first time ever amid the government's expansionary fiscal spending to support the economic recovery, data showed Thursday.
The total government debt hit an all-time high of 1,001 trillion won as of end-April, up by 19.1 trillion won from a month earlier, according to the data compiled by the finance ministry.
The managed fiscal balance, a key gauge of fiscal health, posted a deficit of 37.9 trillion won as of the end of April, smaller than a shortfall of 40.4 trillion won a year earlier.
The country's total revenue for the first four months of this year amounted to 245.9 trillion won, up 28.3 trillion won from a year earlier, on the back of the increase in the collection of corporate, income and value-added taxes amid a recent economic recovery.
South Korea has continued to log a surplus of tax revenue, as the economy has been on a recovery track.
By year-end, the sovereign debt is expected to grow to 1,068.8 trillion won, including 31.1 trillion won of debt to be incurred by provincial governments, the data showed.
Last month, the National Assembly passed a 62 trillion-won extra budget bill to provide aid for small merchants hit hard by strict anti-COVID-19 curbs.
In 2021, the national debt, which covers bond sales and financial borrowing by central and provincial governments, reached a record high of 967.2 trillion won due to the government's increased debt sale amid the pandemic. (Yonhap)
The total government debt hit an all-time high of 1,001 trillion won as of end-April, up by 19.1 trillion won from a month earlier, according to the data compiled by the finance ministry.
The managed fiscal balance, a key gauge of fiscal health, posted a deficit of 37.9 trillion won as of the end of April, smaller than a shortfall of 40.4 trillion won a year earlier.
The country's total revenue for the first four months of this year amounted to 245.9 trillion won, up 28.3 trillion won from a year earlier, on the back of the increase in the collection of corporate, income and value-added taxes amid a recent economic recovery.
South Korea has continued to log a surplus of tax revenue, as the economy has been on a recovery track.
By year-end, the sovereign debt is expected to grow to 1,068.8 trillion won, including 31.1 trillion won of debt to be incurred by provincial governments, the data showed.
Last month, the National Assembly passed a 62 trillion-won extra budget bill to provide aid for small merchants hit hard by strict anti-COVID-19 curbs.
In 2021, the national debt, which covers bond sales and financial borrowing by central and provincial governments, reached a record high of 967.2 trillion won due to the government's increased debt sale amid the pandemic. (Yonhap)
