skorea\s debt amounts to 26 times its gdp
Last Updated : GMT 18:08:33
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*

skorea\s debt amounts to 26 times its gdp skorea\s debt amounts to 26 times its gdp

 



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*

skorea\s debt amounts to 26 times its gdp skorea\s debt amounts to 26 times its gdp

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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