South Korea: Budget balance forecast, percent of GDP
For that indicator, International Monetary Fund provides data for South Korea from 1995 to 2024. The average value for South Korea during that period was 1.61 percent with a minumum of 0.02 percent in 2004 and a maximum of 4.12 percent in 2000.
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Definition: The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle.