Deficit in the national budget likely to be more than 100 trillion won this year
This year, the managed fiscal deficit, which indicates the state of national living, is expected to exceed 100 trillion won.
According to the Ministry of Strategy and Finance and ‘Open Finance’, a financial information disclosure system, the managed fiscal deficit until October this year was 86.3 trillion won.
Given that the deficit has increased by around 10 trillion won in December over the past three years, the annual fiscal deficit managed this year is expected to exceed 100 trillion won.
The control financial deficit, which was 54.4 trillion won in 2019, swelled to 112 trillion won in 2020, the first year of Corona 19, and recorded 90.6 trillion won in 2021.
The managed fiscal balance is calculated by deducting social security funds such as total expenditure, national pension and employment insurance from the total national income for the year.
Reporter Kim Jong-ryeok (firstname.lastname@example.org)
#keeping a national house #managed financial balance #open finance