Tax revenue from January to September this year rose by around 60 trillion won compared to a year earlier, while the nation posted a fiscal deficit of nearly 30 trillion won.

According to the Ministry of Economy and Finance on Tuesday, tax revenue during the first nine months of the year stood at 274-point-five trillion won, up 59-point-eight trillion won on-year.

The increased revenue came from a 15-trillion-won rise in corporate taxes amid the COVID-19 recovery, as well as a surge of 21 trillion won in capital gains and earned income tax from a boom in the stock and property markets.

While the ministry forecast an additional excess in tax revenue of over ten trillion won, it also expected a slowdown in the fourth quarter in line with the stabilization of the property market and deferment of value added taxation for COVID-hit businesses.

Meanwhile, the country's gross expenditures also expanded 37-point-two trillion won on-year amid increased spending to cope with the pandemic, leading to a deficit of 29-point-six trillion won over the same period.

As of October, national debt totaled 936-point-five trillion won, up from 819-point-two trillion won at the end of last year.