Lee Jae-myung, the president, on the 5th shared an article saying Korea's liability ratio outlook is lower than that of major countries.
The president that day shared on X (formerly Twitter) a news report saying Korea's net liability ratio is far lower than the Group of 20 (G20) average, adding, "To those odd people who sing the austerity song at all hours."
The president also appended part of a think tank's analysis that "if funds raised through Government Bonds lead to investments that lift the economic growth rate and expand social productivity, potential growth, and the future tax base, the national liability ratio could instead stabilize."
According to the Korea Institute of Public Finance's analysis of the International Monetary Fund (IMF) Fiscal Monitor report, the IMF forecast Korea's net liability ratio this year at 10.3%. That is a far lower level than the Group of 20 average (89.6%) and the overall average (80.1%). Among major countries, Japan was tallied at 134.3% and Italy at 129.0%.