(MENAFN) South Korea's public sector debt rose to USD815.9 billion in 2013, equivalent to 62.9 percent of the country's gross domestic product, QNA reported.
According to South Korea's Finance Ministry, the country's public sector debt, that takes into account both general government and non-financial corporation debts rose USD70.54 billion n year.
General government debt stood at USD513.51 billion, while non-financial corporation debt stood at USD369.06 billion, with USD66.64 billion being deducted because it involved internal transactions.
"The government, for the time being, must pursue an expansionary fiscal policy stance to fuel economic growth, but it must actively strive for financial health," an official said.
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