(MENAFN) As the 4th largest economy's tax income climbed on the back of amplified real estate transactions, South Korea logged a budget surplus in fiscal 2015 for the first time in an entire 4 years.
Based on the Ministry of Strategy and Finance's released figures, the government's spending summed USD267 billion throughout the previous year, while its net income totaled USD273.8 billion.
As a shift from a deficit for three consecutive years from 2012, the mentioned figures above resulted into the surplus reaching USD7.2 billion in last year, followed by the tax revenue touching USD182 billion.
"The Korean economy faced challenges last year like an outbreak of the Middle East Respiratory Syndrome, but we achieved a budget surplus after taking proactive fiscal policies," said the Finance Minister.
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