Deficit of 36.2 Trillion Won in National Finances from January to February

Publication of the Ministry of Economy and Finance Fiscal Trends April Issue

National tax revenue from January to February this year increased by 3.8 trillion won compared to the same period last year. The national budget deficit recorded 36.2 trillion won, with the deficit widening by 5.3 trillion won compared to the same period last year.

According to the 'Fiscal Trend April Issue' announced by the Ministry of Economy and Finance on the 11th, national tax revenue as of the end of February was 58 trillion won, an increase of 3.8 trillion won compared to the same period last year.

By tax category, corporate tax and value-added tax increased by 100 billion won and 3.7 trillion won respectively, while income tax decreased by 300 billion won.

Fund revenue increased by 3.4 trillion won compared to the same period last year to 33.7 trillion won, due to an increase in insurance premium income. Non-tax revenue remained at the same level as last year at 5.5 trillion won.

With the increase in national tax and fund revenue, total revenue was recorded at 97.2 trillion won, an increase of 7.2 trillion won compared to last year. The progress rate rose by 0.2 percentage points from last year to 15.9%.

Total expenditure from January to February increased by 12.5 trillion won compared to the same period last year to 127.1 trillion won, with the progress rate rising by 0.6 percentage points from a year ago to 19.4%.

The integrated fiscal balance, which is total revenue minus total expenditure, recorded a deficit of 29.9 trillion won. The managed fiscal balance, which shows the government's actual fiscal condition by deducting the four major social security funds including the National Pension, recorded a deficit of 36.2 trillion won.

The managed fiscal balance deficit widened by 5.3 trillion won compared to the same period last year (30.9 trillion won).

Central government debt was recorded at 1,120.4 trillion won as of the end of February.

Meanwhile, the issuance of treasury bonds from January to March was 48.3 trillion won, which is 30.5% of the annual total issuance limit. The March procurement interest rate fell to 3.32% from 3.36% in the previous month, and the bid rate decreased to 334% from 335% in the previous month.