South Korea recorded a Government Budget deficit equal to 2 percent of the country's Gross Domestic Product in 2017. Government Budget in South Korea averaged -0.44 percent of GDP from 1988 until 2017, reaching an all time high of 3.47 percent of GDP in 2007 and a record low of -4.10 percent of GDP in 2009.

Government Budget in South Korea is expected to be -2.30 percent of GDP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Government Budget is projected to trend around -3.20 percent of GDP in 2020, according to our econometric models.

South Korea Government Budget
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South Korea Government Last Previous Highest Lowest Unit
Government Debt to GDP 38.00 38.30 38.30 8.24 percent [+]
Government Budget -2.00 -2.40 3.47 -4.10 percent of GDP [+]
Government Budget Value 14031.00 15993.00 42914.00 -28619.00 KRW Billion [+]
Government Spending 60505.20 59634.50 60505.20 2742.81 KRW Billion [+]
Government Revenues 339609.00 309467.00 403839.00 14987.00 KRW Billion [+]
Fiscal Expenditure 325578.00 293473.00 379809.00 7012.00 KRW Billion [+]
Credit Rating 84.40 [+]
Military Expenditure 37559.90 36934.40 37559.90 182.70 USD Million [+]
Government Spending To GDP 32.26 32.30 34.90 18.60 percent [+]
Asylum Applications 652.00 591.00 775.00 1.00 Persons [+]


South Korea Government Budget

Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - South Korea Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Government Budget - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2.00 -2.40 3.47 -4.10 1988 - 2017 percent of GDP Yearly




Country Last Previous
Argentina -3.90 Dec/17
Australia -1.90 Dec/17
Brazil -7.80 Dec/17
Canada -0.90 Dec/17
China -3.50 Dec/17
Euro Area -0.90 Dec/17
France -2.60 Dec/17
Germany 1.30 Dec/17
India -3.53 Dec/17
Indonesia -2.50 Dec/17
Italy -2.30 Dec/17
Japan -4.50 Dec/17
Mexico -2.90 Dec/17
Netherlands 1.10 Dec/17
Russia -1.50 Dec/17
Saudi Arabia -8.90 Dec/17
Singapore 0.30 Dec/17
South Africa -4.60 Dec/17
South Korea -2.00 Dec/17
Spain -3.10 Dec/17
Switzerland 1.20 Dec/17
Turkey -1.50 Dec/17
United Kingdom -2.30 Dec/17
United States -3.50 Dec/17


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