Government Spending in South Korea increased to 81349.10 KRW Billion in the first quarter of 2021 from 79988 KRW Billion in the fourth quarter of 2020. source: The Bank of Korea

Government Spending in South Korea averaged 25841.36 KRW Billion from 1960 until 2021, reaching an all time high of 81349.10 KRW Billion in the first quarter of 2021 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 May of 2021.

Government Spending in South Korea is expected to be 82637.00 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 82068.00 in 12 months time. In the long-term, the South Korea Government Spending is projected to trend around 84447.00 KRW Billion in 2022 and 86896.00 KRW Billion in 2023, according to our econometric models.

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South Korea Government Spending

Actual Previous Highest Lowest Dates Unit Frequency
81349.10 79988.00 81349.10 2925.40 1960 - 2021 KRW Billion Quarterly
Constant Prices 2015, SA

South Korea Government Last Previous Highest Lowest Unit
Government Debt to GDP 42.60 36.40 42.60 8.24 percent [+]
Government Budget -2.60 -0.60 3.47 -4.10 percent of GDP [+]
Government Budget Value -12694.00 3442.00 42914.00 -89971.00 KRW Billion [+]
Government Spending 81349.10 79988.00 81349.10 2925.40 KRW Billion [+]
Government Revenues 92518.00 55261.00 443853.00 14987.00 KRW Billion [+]
Fiscal Expenditure 105212.00 51819.00 472025.00 7012.00 KRW Billion [+]
Asylum Applications 15451.00 16173.00 16173.00 4.00 Persons [+]
Government Spending To GDP 31.15 30.27 34.90 18.60 percent [+]
Military Expenditure 46281.00 43070.00 46281.00 199.00 USD Million [+]
Credit Rating 86.00 [+]


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.