Government Spending in South Korea increased to 80151.90 KRW Billion in the second quarter of 2020 from 79280.70 KRW Billion in the first quarter of 2020.

Government Spending in South Korea averaged 25163.42 KRW Billion from 1960 until 2020, reaching an all time high of 80151.90 KRW Billion in the second quarter of 2020 and a record low of 2925.40 KRW Billion in the third quarter of 1961. This page provides - South Korea Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Government Spending - values, historical data and charts - was last updated on October of 2020. source: The Bank of Korea

Government Spending in South Korea is expected to be 76489.00 KRW Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Spending in South Korea to stand at 82209.00 in 12 months time. In the long-term, the South Korea Government Spending is projected to trend around 81632.00 KRW Billion in 2021 and 83673.00 KRW Billion in 2022, according to our econometric models.

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South Korea Government Spending

Actual Previous Highest Lowest Dates Unit Frequency
80151.90 79280.70 80151.90 2925.40 1960 - 2020 KRW Billion Quarterly
Constant Prices 2015, SA

South Korea Government Last Previous Highest Lowest Unit
Government Debt to GDP 37.70 36.60 39.90 8.24 percent [+]
Government Budget -2.60 -0.60 3.47 -4.10 percent of GDP [+]
Government Budget Value -70888.00 -75607.00 42914.00 -89971.00 KRW Billion [+]
Government Spending 80151.90 79280.70 80151.90 2925.40 KRW Billion [+]
Government Revenues 296469.00 261424.00 443853.00 14987.00 KRW Billion [+]
Fiscal Expenditure 367357.00 337031.00 455850.00 7012.00 KRW Billion [+]
Military Expenditure 41157.00 39171.00 41157.00 190.00 USD Million [+]
Credit Rating 86.00 [+]
Asylum Applications 839.00 1059.00 2260.00 1.00 Persons [+]
Government Spending To GDP 30.27 30.30 34.90 18.60 percent [+]


South Korea Government Spending
Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth.