South Korea’s tax revenue in the first seven months of the year increased by more than 20 trillion won, or almost 18 billion U.S. dollars, from the same period of last year. 

According to data from the Finance Ministry, the government collected 155-point-four trillion won in the January to July period, up 20-point-one trillion won year-on-year.

The seven-month tally represents 66-point-eight percent of the government’s annual target of 232-point-seven trillion won, up four percentage points from a year ago.

Overall government income, including the tax revenues, reached 249 trillion won, while total government spending came to 241 trillion won in the cited period.

As of the end of July, overall government debt stood at 600-point-three trillion won, up eight-point-six trillion won from June. This year’s overall government debt is expected to reach 603-point-two trillion won.