South Korea recorded a Government Budget deficit equal to 1.60 percent of the country's Gross Domestic Product in 2018. Government Budget in South Korea averaged -0.39 percent of GDP from 1988 until 2018, 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. source: Statistics Korea

Government Budget in South Korea is expected to be -1.50 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 -2.00 percent of GDP in 2020, according to our econometric models.

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South Korea Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-1.60 -1.10 3.47 -4.10 1988 - 2018 percent of GDP Yearly


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.

South Korea Government Last Previous Highest Lowest Unit
Government Debt to GDP 36.60 36.30 39.90 8.24 percent [+]
Government Budget -1.60 -1.10 3.47 -4.10 percent of GDP [+]
Government Budget Value -7906.00 -11394.00 42914.00 -38492.00 KRW Billion [+]
Government Spending 78781.50 76796.50 78781.50 2742.81 KRW Billion [+]
Government Revenues 409618.00 382629.00 438262.00 14987.00 KRW Billion [+]
Fiscal Expenditure 417525.00 394024.00 417525.00 7012.00 KRW Billion [+]
Credit Rating 86.00 [+]
Military Expenditure 41157.00 39171.00 41157.00 190.00 USD Million [+]
Asylum Applications 839.00 1059.00 2260.00 1.00 Persons [+]
Government Spending To GDP 32.26 32.30 34.90 18.60 percent [+]