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South Korea faces a fiscal deficit as tax revenue drops despite slight overall revenue rise.
South Korea's tax revenue fell by 8 billion USD in the first nine months of 2024, mainly due to a 12.4 billion USD drop in corporate taxes, though income and value-added taxes saw increases.
Total revenue rose slightly to 312.2 billion USD, but spending increased by 17.6 billion USD, leading to a fiscal deficit of 65 billion USD.
The country's central government debt was 816.2 billion USD at the end of September.
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Corea del Sur se enfrenta a un déficit fiscal a medida que los ingresos fiscales disminuyen a pesar de un ligero aumento general de los ingresos.