Republic of Korea is the top country by general government structural balance in the world. As of 2017, general government structural balance in Republic of Korea was 43,308 billion LCU that accounts for -7.80 % of the world's general government structural balance. The top 5 countries (others are Hong Kong, Czech Republic, Sweden, and Serbia) account for -7.84 % of it. The world's total general government structural balance was estimated at -555,293 billion LCU in 2017.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle; see, for example, A. Fedelino. A. Ivanova and M. Horton "Computing Cyclically Adjusted Balances and Automatic Stabilizers" IMF Technical Guidance Note No. 5, http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf.