Gov't Debt to Hit Highest Level Ever in 2015

  • Arirang News

    September 19, 2014 11:11

    Korea's national debt is expected to hit a record high next year.

    The finance ministry says the government will be in the red to the tune of US$546 billion in 2015. That will amount to nearly 36 percent of the country's gross domestic product.

    The government is also projected to log a $32 billion fiscal deficit next year, equal to 2.1 percent of GDP. This is 0.4 percent higher than its initial forecast of 1.7 percent.

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