South Korea recorded a Government Budget deficit equal to 5.60 percent of the country's Gross Domestic Product in 2021. source: Statistics Korea

Government Budget in South Korea averaged -0.65 percent of GDP from 1988 until 2021, reaching an all time high of 3.47 percent of GDP in 2007 and a record low of -5.60 percent of GDP in 2021. This page provides - South Korea Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Government Budget - values, historical data and charts - was last updated on February of 2023.

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South Korea Government Budget



Related Last Previous Unit Reference
Government Budget -5.60 -3.50 percent of GDP Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
-5.60 -3.50 3.47 -5.60 1988 - 2021 percent of GDP Yearly