Tax revenue came in at 125.6 trillion won (91.4 billion U.S. dollars) in the January-April period, down 8.4 trillion won (6.1 billion dollars) compared to the same period of last year, according to the Ministry of Economy and Finance.
Corporate tax collection dipped 12.8 trillion won (9.3 billion dollars) on the decreased corporate earnings.
Income tax revenue dwindled 400 billion won (291.1 million dollars) on lower household income, but revenue from value-added tax expanded 4.4 trillion won (3.2 billion dollars) on consumption improvement.
Total revenue, including tax and non-tax revenues, increased 1.5 trillion won (1.1 billion dollars) to 213.3 trillion won (155.2 billion dollars) in the four-month period.
Total expenditure jumped 19.6 trillion won (14.3 billion dollars) to 260.4 trillion won (189.5 billion dollars).
The managed fiscal balance, excluding social security fund, recorded a deficit of 64.6 trillion won (47 billion dollars) in the first four months of 2024.
The central government's debt stood at 1,128.9 trillion won (821.5 billion dollars) at the end of April, up 13.4 trillion won (9.8 billion dollars) from a month earlier.
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