Reducing National Debt by 2.5 Trillion Won with Excess Tax Revenue... 5.8 Trillion Won Treasury Bonds Issued in December
[Sejong=Asia Economy Reporter Kim Hyunjung] The government has decided to reduce the national debt by 2.5 trillion won next month by cutting the amount of government bonds issued. The plan is to reduce the scale of bond issuance from the original plan by utilizing this year's excess tax revenue.
The Ministry of Economy and Finance announced on the 25th in the 'December Government Bond Issuance Plan' that it plans to issue government bonds worth 5.8 trillion won next month.
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The originally planned issuance amount by the government was 8.3 trillion won, but it was reduced by 2.5 trillion won using this year's excess tax revenue. Accordingly, the issuance scale of deficit-covering bonds this year will decrease from 104 trillion won to 101.5 trillion won.
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