The Korea Times
Korea's medium-term debt outlook has improved slightly compared with previous projections, an International Monetary Fund (IMF) report said Thursday. The report, released by Seoul's finance ministry, projects the country's ratio of national debt to its gross domestic product (GDP) to reach 61.7 percent by 2030, down 2.6 percentage points from the previous estimate of 64.3 percent made in October last year. Projections for 2026 through 2029 were also revised downward by 2.3 to 2.6 percentage points compared with earlier forecasts. The ministry noted that the IMF raised its nominal GDP growth forecasts for South Korea to 4.2 percent for 2025 from the previous forecast of 2.1 percent and to 4.7 percent for 2026 from 2.1 percent. The revised estimates reflect the positive effects of the Seoul government's performance-based and strategic fiscal management, the ministry said. The IMF publishes its fiscal monitoring report twice a year, in April and October, providing comparative analysis and projections.
Go to News Site