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S. Korea sees national debt climb USD46b in 2015
(MENAFN) South Korea's national debt surged by USD46.7 billion last year from a year earlier as the government managed an expansionary fiscal policy to pump-prime the plunging economy.
The national debt that covers the central government's general and special accounts and funds touched USD480 billion through the past year, up from USD433 billion reported in 2014.
Based on the latest reports, adding regional government debts, the nation's general government debt increased to USD509.4 billion last year, representing 37.9 percent of the GDP.
"National debt increased at a slower-than-expected pace. It's an improvement. But we don't think it's a complete turnaround, as the debt-GDP ratio is still rising," stated the finance ministry.
The national debt that covers the central government's general and special accounts and funds touched USD480 billion through the past year, up from USD433 billion reported in 2014.
Based on the latest reports, adding regional government debts, the nation's general government debt increased to USD509.4 billion last year, representing 37.9 percent of the GDP.
"National debt increased at a slower-than-expected pace. It's an improvement. But we don't think it's a complete turnaround, as the debt-GDP ratio is still rising," stated the finance ministry.
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