National debt of 15 million won per person … End of the year 16 million won

Check-in 2020.05.10 09:22

The national debt per capita is currently close to 15 million won. The national debt is expected to exceed 800 trillion won this year, as the additional revision budget continues with the new coronavirus infection (Corona19).

Looking at the National Debt Office’s National Debt Clock, as of 9:00 am on the 10th, the national debt per capita (D1) in Korea was 14.83.8994 won. At the same time, the total national debt was about 769.22 trillion won. The national debt is a debt that must be paid by the central and local governments. It refers to a defined debt that the government has direct payment obligations based on the International Monetary Fund (IMF).

The current national debt clock is designed to increase by approximately 2.28 million won per second according to the national debt forecast of 815 trillion and 500 billion won in the first additional budget. The per capita amount is divided among the resident population of 4.47 million at the end of February this year.

National Debt Surveillance has been posted on the home page since 2013. It is not actually necessary to pay this amount per person directly, but it is intended to increase awareness of the fiscal soundness of the national tax by showing the increase in debt in seconds.

The rate of increase of the national debt is increasing rapidly in recent years. 2000 (111 trillion won) 100 trillion won, 2004 (204 trillion won) 200 trillion won, 2008 (309 trillion won) 300 trillion won, 2011 (421 trillion won) 400 trillion won, 2014 ( 533 trillion won) 500 trillion won, 2016 (627 trillion won)) It happened 600 billion won and 2019 (729 trillion won) per shift. It is expected to exceed 800 trillion won this year.

The national debt per capita, which was around 2.23 million won in 2000, exceeded 10 million won in 2014 (1051 million won). If the national debt clock ticks up, it is expected to exceed 15 million won this year.

The problem is that with the Corona 19 crash, there is growing concern that the rate of increase will be even faster starting this year. According to the budget, the government forecast this year’s national debt to be 805 trillion won, but increased to 815 trillion won as the first supplemental amount and to 819 trillion won as the second supplemental measure.

Already, in 2019-2023, the national financial management plan exceeded this year’s forecast of 805 trillion and 1.5 trillion won. Monitoring the country’s debt, which is expected to increase by 2.28 million won per second, is the primary supplemental standard, making the actual rate of increase faster than clockwise.

Furthermore, government debt is expected to increase further as the government officially formulates the third round, which is estimated to reach 30 trillion won. If this entire amount rises in debt, the national debt will rise to 850 trillion won. In this case, the national debt per capita is estimated at 16.4 million won. This means that the national debt per capita will increase by 1.56 million won in the next seven months.

The Office of the Congress of the Future Unification Party of the Republic of Korea predicted that this year’s national debt would be 879 trillion won. Under the government’s national financial management plan for 2019-2023, the national debt is 887 trillion won in 2021, 970 trillion won in 2022, and 1,061 trillion won in 2023.