S. Korea's debt to GDP may rise above 46% if gov't pursues 3rd supplementary budget

4 years ago
올해 국가채무비율 45% 도달 우려,.. "정부 예상보다 3년 빨라"

As the South Korean government pushes for a third supplementary budget to cushion the COVID-19-related economic fallout,... official are warning the nation's government debt to GDP ratio could go as high as 46-and-a-half percent,... three years ahead of the government's initial projection.
According to the finance ministry Sunday the country's debt would reach 671-billion U.S. dollars after applying over 19-and-a-half billion,... that's the amount of the first and the second extra budgets combined.
A surge in the debt to GDP ratio would negatively affect South Korea's fiscal soundness, and the issue is likely to be brought up later this month during a meeting with officials from the ruling party, the government and the top office.