The total tax revenue in the first eight months of this year climbed more than 55 trillion won amid a strong economic recovery.

According to the Finance Ministry on Tuesday, tax revenue between January and August stood at 248-point-two trillion won, up 55-point-seven trillion won from a year ago.

The ministry said while tax revenue saw an increase from January to August, the growth in August alone grew only one-tenth of the increase posted in July, after the base effect resulting from tax breaks provided last year wore off. 

The government's total income, including tax revenue, totaled 397-point-five trillion won between January and August, up 79-point-seven trillion from a year earlier.

Total expenditures also rose to 427-point-three trillion won, up 38-point-six trillion won on-year. 

This has led to the country posting a fiscal deficit of 29-point-eight trillion won in the eight-month period, narrowing the deficit by 58 percent.

The nation's sovereign debt was estimated to stand at 927-point-two trillion won.