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South Korea's Fiscal Deficit Down to 64.8T Won
South Korea announced that the fiscal deficit during the first seven months of the year decreased to 64.8 trillion won ($47.9 billion), the lowest level since 2021. This improvement was driven by an increase in tax revenues, which reached 274 trillion won, up by 41.4 trillion won compared to last year. Additionally, total government spending rose to 476.2 trillion won, an increase of 33.7 trillion won. This positive development reflects a more sustainable financial situation, fueled by corporate profits and increased financial transactions.
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