Arab Today, arab today skorea\s debt amounts to 26 times its gdp
Last Updated : GMT 05:46:20
Arab Today, arab today
Arab Today, arab today

S.Korea\'s debt amounts to 2.6 times its GDP

Arab Today, arab today

Arab Today, arab today S.Korea\'s debt amounts to 2.6 times its GDP

Seoul - Bna

South Korea\'\'s public and private-sector debt came to 2.6 times its gross domestic product (GDP) as of the end of June, data showed Monday, sounding alarm bells for the country\'\'s indebtedness. The Korean government, state companies, private firms and households owed a combined 3,283 trillion won (US$2.9 trillion) as of end-June, up 5.7 percent from the 3,106 trillion won a year earlier, according to the data by think tanks and securities firms, according to South Korea\'\'s news agency (Yonhap).The debt-to-GDP percentage is based on an estimate that the South Korean economy, Asia\'\'s fourth-largest, will expand 8 percent on-year in 2011 on a nominal basis.Debts of households and non-profit organizations jumped 9.4 percent on-year to 1,050 trillion won, while the government debt rose 5.9 percent to 419 trillion won, according to the data. Private companies\'\' debt came to 1,461 trillion won, up 1 percent from the previous year, while public companies\'\' liabilities shot up 15.9 percent to 353 trillion won, according to the data. Economists and market watchers raised concerns over the size of the country\'\'s debt and its growth pace. \"Overall, South Korea\'\'s debt level is reasonable compared with other advanced economies. But the already-large household debt can be a time bomb for the local economy,\" Park Deog-bae, an economist at Hyundai Research Institute, said by phone. \"At times when the government has the capacity to handle the debt, it won\'\'t be a big problem. But amid global uncertainties, it\'\'s definitely a risk factor.\" In a recent report, Kiwoom Securities Co. also pointed out the problem of rising household debt. \"Individuals\'\' debt is at a level difficult to bear. Borrowers\'\' capacity to repay debts is also worsening amid weak domestic demand,\" the brokerage said. However, some said South Korea is better off than other economies.\"The spillover of the eurozone financial crisis into Italy will be the biggest threat to the South Korean economy,\" said LG Economic Research Institute economist Shin Min-young. \"It\'\'s true that high debts can be a burden to the local economy, but the country is still in a better situation.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today skorea\s debt amounts to 26 times its gdp Arab Today, arab today skorea\s debt amounts to 26 times its gdp

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today skorea\s debt amounts to 26 times its gdp Arab Today, arab today skorea\s debt amounts to 26 times its gdp

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday