March 2024 National Budget Update: Total Revenue Increases by 2.1 Trillion Won, Total Expenditure Up by 25.4 Trillion Won

Delivery time2024-05-09 10:00

Total revenue increased by 2.1 trillion won… Total expenditure by 25.4 trillion won ↑

(Sejong = Yonhap News) Reporter Park Jae-hyun = In March this year, the national budget deficit reached a record high of 75.3 trillion won. Total revenue increased by 2.1 trillion won compared to the same period last year.

According to the ‘May issue of Monthly Financial Trends’ published by the Ministry of Strategy and Finance on the 9th, the national tax revenue at the end of March was 84.9 trillion won, a decrease of 2.2 trillion won compared to the same period last year. .

At the end of December, due to the impact of poor corporate business performance, corporate tax decreased by 5.5 trillion won, and income tax also decreased by 700 billion won. Value tax increased by 3.7 trillion won.

It earned 7.5 trillion in non-tax revenue, an increase of 100 billion won since last year.

55.1 trillion won from the fund’s income, an increase of 4.2 trillion won from a year ago.

The government’s total revenue was calculated to be 147.5 trillion won, an increase of 2.1 trillion won from last year. The rate of increase is 24.1%.

Total spending from January to March recorded 212.2 trillion won, an increase of 25.4 trillion won compared to the same period last year.

The combined fiscal balance, which subtracts total expenditure from total revenue, was a deficit of 64.7 trillion won.

The controlling fiscal balance, which shows the actual financial status of the government by deducting the four major security funds, including the national pension, from the consolidated fiscal balance, recorded a deficit of 75.3 trillion won.

This is the highest cumulative figure in March since 2014, when the management’s monthly fiscal balance began to be collected.

Compared to the same period last year (54 trillion won), the deficit in the control budget widened by 21.3 trillion won.

An official from the Ministry of Strategy and Finance explained, “Due to the impact of rapid fiscal action in the first half of the year, expenditure was concentrated in March, leading to an increase in the overall deficit.”

It was calculated that the central government debt was 1,115.5 trillion won at the end of March. As repayments of government bond maturities were rounded up at the end of the quarter, there was a drop of 4.9 trillion won from the previous month.

The amount of treasury bond issuance was 15 trillion won. Foreign investment in treasury bonds recorded a net inflow of 3.9 trillion won.

trauma@yna.co.kr

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2024/05/09 10:00 Sent

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