S. Korea logs 35.5 tln-won fiscal deficit in January-May period: data

SEOUL, July 10 (Yonhap) -- South Korea's fiscal deficit came to 35.5 trillion won (US$25.8 billion) in the first five months of the year, the finance ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on stricter terms, posted a deficit of 54.2 trillion won in the cited period, according to data from the Ministry of Economy and Finance. The figure marked an improvement from a managed fiscal deficit of 74.4 trillion won recorded over the same period last year. The improvement is attributable to a bigger increase in revenue than expenditure, the ministry said. Total revenue added 21.6 trillion won on-year to 279.8 trillion won in the first five months of this year. In detail, tax revenue expanded 21.3 trillion won to 172.3 trillion won. Meanwhile, total expenditures only increased 4.9 trillion won on-year to 315.3 trillion won. As of end-May, the central government's outstanding debt had stood at 1,217.8 trillion won, up 19.9 trillion won from a month earlier. In June, 23.8 trillion won worth of government bonds were issued, with bond yields rising from a month before amid expectations for the passage of a second supplementary budget and further rate cuts, according to the ministry. South Korea's National Assembly approved a 31.8 trillion-won extra budget bill last week to stimulate the economy. This photo provided by the Ministry of Economy and Finance shows its headquarters in the central city of Sejong. (PHOTO NOT FOR SALE) (Yonhap) nyway@yna.co.kr(END)