Government Spending in South Korea increased to 84290.80 KRW Billion in the second quarter of 2021 from 81092 KRW Billion in the first quarter of 2021. source: The Bank of Korea

Government Spending in South Korea averaged 26074.19 KRW Billion from 1960 until 2021, reaching an all time high of 84290.80 KRW Billion in the second 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 October of 2021.

Government Spending in South Korea is expected to be 82171.00 KRW Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Government Spending is projected to trend around 84285.00 KRW Billion in 2022 and 86729.00 KRW Billion in 2023, according to our econometric models.

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South Korea Government Spending

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.

South Korea Last Unit Reference Previous Highest Lowest
Government Budget Value -20709.00 KRW Billion Jul/21 -47188.00 42914.00 -89971.00
Government Spending 84290.80 KRW Billion Jun/21 81092.00 84290.80 2925.40
Government Revenues 337403.00 KRW Billion Jul/21 281802.00 443853.00 14987.00
Fiscal Expenditure 358112.00 KRW Billion Jul/21 328990.00 472025.00 7012.00
Government Spending To GDP 31.15 percent of GDP Dec/18 30.27 32.28 17.90