SEOUL: South Korea's treasury bond issuance next year is likely to be less than the amount planned for this year thanks to tax revenue exceeding estimates, finance ministry officials told Reuters on Monday.
"Next year's debt-financing bond issuance will be much less than this year's, resulting in an overall smaller treasury bond issuance in 2017 as tax collection has been good," said a finance ministry official, who declined to be named.
This year, 41.4 trillion won ($36.79 billion) out of 45.9 trillion won worth of treasury bonds to be sold will be to finance the country's debt.
Revenue from tax collection for the first half of the year reached 125.6 trillion won, 19 trillion won more than the same time in 2015.
Another ministry official, who also asked to remain anonymous, told Reuters next year's tax revenue was likely to remain largely in line with this year, although revenues from real estate transaction taxes may be volatile.
The ministry is set to announce details of next year's budget and bond sales on August 30.
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