Government fiscal deficit narrowed to 1.1% of GDP in 2010.

By bne IntelliNews April 6, 2011
The government of South Korea's fiscal deficit narrowed to the equivalent of 1.1% of gross domestic product (GDP) in 2010 as compared to 4.1% recorded in 2009. As reported by Dow Jones International News, the Ministry of Strategy and Finance stated that the country experienced unexpected rise in income and spent less than planned. The consolidated fiscal balance, which included the general account, 18 special accounts, and 51 funds such that of the National Pension Service, increased to a surplus of 1.4% of GDP in 2010 as compared to 1.7% deficit in 2009.

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