South Korea’s Fiscal Deficit Hits $69.4 Billion in First Nine Months of 2025

Seoul: South Korea's Ministry of Finance announced on Saturday that the country's fiscal deficit exceeded 102 trillion won, equivalent to $69.4 billion, during the first nine months of 2025. Ministry data showed that the managed fiscal balance, a more stringent measure of fiscal health, recorded a deficit of 102.4 trillion won during the same period, making it the second-largest deficit recorded for the January-September period since 2020. According to Yemen News Agency, revenues increased by 41.4 trillion won compared to the same period last year, reaching a total of 480.7 trillion won, of which 289.6 trillion won was tax revenue, representing a year-on-year increase of 34.3 trillion won. Expenditure, however, rose by 51.9 trillion won to 544.2 trillion won during the first nine months of the year. The South Korean government had previously projected that the deficit would meet its original annual target of approximately 111.6 trillion won by year-end.