South Korea Government Budget

South Korea recorded a Government Budget deficit equal to 1.50 percent of the country's Gross Domestic Product in 2013. Government Budget in South Korea is reported by the Statistics Korea. Government Budget in South Korea averaged -0.18 Percent of GDP from 1988 until 2013, reaching an all time high of 3.47 Percent of GDP in 2007 and a record low of -4.10 Percent of GDP in 2009. 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. This page provides - South Korea Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-1.50 -1.30 3.47 -4.10 -1.52 | 2014/12 1988 - 2013 Percent of GDP Yearly

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South Korea Government Budget
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Government Last Previous Highest Lowest Forecast Unit
Government Debt To GDP 34.80 2012-12-31 34.00 34.80 7.99 35.59 2013-12-31 Percent [+]
Credit Rating 80.74 [+]
Government Budget -1.50 2013-12-31 -1.30 3.47 -4.10 -1.52 2014-12-31 Percent of GDP [+]
Government Budget Value -8247.00 2014-02-28 4112.00 42914.00 -28619.00 -6385.71 2013-10-31 KRW Billion [+]
Government Spending 50208.40 2014-02-15 50298.90 50298.90 4673.10 48459.60 2014-03-31 KRW Billion [+]
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Government Budget | Notes
A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.


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