Korea's fiscal balance improves through September: budget ministry
5 Articles
5 Articles
National Budget Deficit of 32 Trillion Won (January-September)... Smallest in 8 Years. Driven by the semiconductor super-boom, the deficit narrowed to one-third of its level from a year ago. The national budget deficit through September of this year was the smallest in eight years. Thanks to strong tax revenues driven by the semiconductor boom, the deficit shrank by over 70 trillion won compared to a year ago, marking the largest decline on reco…
The national fiscal deficit for January through September of this year narrowed to 32 trillion won, marking its lowest level in eight years. This is attributed to a combination of factors: a significant increase in corporate taxes driven by strong corporate earnings following improvements in the semiconductor industry, and rising tax revenue resulting from the recovery of the stock and real estate markets. According to the November issue of the …
National taxes collected through September of this year reached 385 trillion won, already exceeding the total taxes collected throughout the entire previous year. With significant increases in corporate and income taxes, the national budget deficit narrowed by more than 70 trillion won compared to a year ago. According to the "Monthly Fiscal Trends November Issue" published by the Ministry of Planning and Budget on the 12th, national tax revenu…
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