State Spending to Top $729 Billion by 2030 Amid Fiscal Expansion
4 Articles
4 Articles
(Sejong = Yonhap News) Reporters Ahn Chae-won and Song Jeong-eun = Fiscal soundness indicators, such as the national budget deficit ratio, are set to improve significantly next year due to a massive tax revenue boom.
The government has officially adopted an expansionary fiscal stance by announcing next year's budget plan worth 820.9 trillion won. With tax revenue secured from the semiconductor boom being utilized for the Future Response Fund, the government budget is projected to exceed 1,000 trillion won by 2030. Furthermore, the country is facing a new turning point in fiscal management as it completes the repayment of public funds from the foreign exchang…
With tax revenues and nominal GDP increasing significantly due to the semiconductor superboom, key fiscal soundness indicators and the outlook for national finances over the next five years have improved substantially. According to the ‘2026–2030 National Fiscal Management Plan’ released by the Ministry of Planning and Budget on the 1st, the national debt-to-GDP ratio is 50.6% this year (
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