Total tax revenue in the first seven months of this year jumped more than 55 trillion won from a year earlier, amid a strong economic recovery.

According to the Finance Ministry on Thursday, tax revenue between January and July stood at 223-point-seven trillion won, up 55-point-one trillion won from a year ago.

The ministry attributed the growth in tax revenue to a boost in corporate tax income and a boom in the stock and real estate markets, which led to a rise in capital gains tax income.

The government's total income, including tax revenue, totaled 356-point-nine trillion won between January and July, up 27.3 percent or 76-point-five trillion from a year earlier.

Total expenditures also rose to 377-point-six trillion won, up 21-point-six trillion won on-year, on the back of increased fiscal spending amid the pandemic.

This led to the country posting a fiscal deficit of 20-point-seven trillion won in the seven-month period, narrowing the deficit by 72.6 percent from 75-point-six trillion won a year earlier

This pushed he nation's sovereign debt up to 914-point-two trillion won, topping the 900-trillion-won mark for the first time ever.