The country’s fiscal deficit surpassed 100 trillion won through September, posting the second-largest figure for the nine-month period.

According to the finance ministry on Thursday, the government’s total revenue posted 480-point-seven trillion won during the January-September period, while total expenditures reached 544-point-two trillion won.

Accordingly, the consolidated fiscal balance logged a deficit of 63-point-five trillion won.

However, the managed fiscal balance, or the consolidated fiscal balance minus the balance of social security funds, posted a deficit of 102-point-four trillion won, or 69-point-four billion U.S. dollars.

It represents an increase of eleven trillion won from a year ago and marks the second-largest nine-month deficit since 2020, when the figure reached 108-point-four trillion won.

Tax revenue increased by 34-point-three trillion won from a year earlier to 289-point-six trillion won during the period, mainly due to a rise in corporate tax revenue.