ID :
128232
Wed, 06/16/2010 - 15:28
Auther :

S. Korea logs cumulative fiscal surplus until April



fiscal surplus-April


SEOUL, June 16 (Yonhap) -- South Korea posted cumulative fiscal surplus in the
first four months of this year thanks to less spending and more tax revenues amid
a rebounding economy, a report showed Wednesday.
The "consolidated" fiscal surplus that also includes social welfare funds
amounted to 700 billion won (US$578.5 million) during the January-April period,
according to the report by the Ministry of Strategy and Finance.
This is a turnaround from a deficit of 8.2 trillion won tallied during the same
period a year earlier.
The ministry explained that the surplus came mostly from scaled-back budget and
more tax revenues than last year when the nation had to seek expanded fiscal
spending and other stimuli in the face of the global slump.
kokobj@yna.co.kr
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