(MENAFN- QNA) The debt from South Korea's government bonds is expected to surpass 500 trillion won for the first time ever next year in the wake of the government's stimulus package.
The South Korean Ministry of Strategy and Finance Tuesday estimated that the debt from the government bonds will amount to 539.9 trillion won at the end of 2015. The estimate for the end of 2014 was 494.7 trillion won, according to Korea's (KBS WORLD) website.
Compared with the 178.7 trillion won in 2004, the debt from the government bonds will rise more than three times in 11 years.
The government estimated that it will issue 114.2 trillion won's worth of new bonds in 2015 while paying off 69 trillion won's worth of bonds reaching maturity.
The government expects the debt from the government bonds will continue to rise to 586.7 trillion won in 2016, 632.3 trillion won in 2017 and 666.5 trillion won in 2018.
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