South Korea recorded a government budget deficit of 7906 KRW Billion in November of 2019. Government Budget Value in South Korea averaged 5212.21 KRW Billion from 1999 until 2019, reaching an all time high of 42914 KRW Billion in November of 2007 and a record low of -38492 KRW Billion in June of 2019. source: The Bank of Korea

Government Budget Value in South Korea is expected to be -19000.00 KRW Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in South Korea to stand at 18000.00 in 12 months time. In the long-term, the South Korea Government Budget Value is projected to trend around 23000.00 KRW Billion in 2020, according to our econometric models.

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South Korea Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-7906.00 -11394.00 42914.00 -38492.00 1999 - 2019 KRW Billion Monthly
Current Prices, NSA

South Korea Government Budget Value
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.

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 [+]