Interest on state bonds to total 9.5 trillion

Next year¡¯s interest payments on public funds consummated in financial reforms and public bonds issued are expected to tally up to 9.5 trillion. This corresponds to a monthly average payment of 950,000 won per family of four. The Planning and budget ministry has allocated 6.9 trillion won for interest payments on public funds used in financial reforms in the next year¡¯s budget. This equals 6.8% of the total 101 trillion budget for next year. The budget consists of 5.4 trillion won of interest payments on an already raised 64 trillion won of public funds and 1.5 trillion won on 40 trillion won to be raised later.

Moreover, the ministry has allocated 6.5 trillion won for issuing public bonds to make up for this year¡¯s accounting deficit. This is lower than the originally expected 11 trillion. Consequently, the total accumulated public bonds issued until next year will reach 29.6 trillion won. Interest payments on the bonds in general accounting will tally up to 2.6 trillion won, and when combined with interest payments on public funds, will tally up to 9.5 trillion won.