The International Monetary Fund (IMF) warned that South Korea’s government debt is expected to rise significantly in the coming years. Korea and Belgium were specifically highlighted as countries facing notable increases.

According to the report, Korea’s debt trajectory has shifted from a gradual rise to a more substantial increase compared to previous forecasts.

However, improved economic conditions—such as a semiconductor rebound and higher inflation—have led to an upward revision in nominal GDP growth. This resulted in a slightly lower debt-to-GDP ratio outlook.

The IMF expects Korea’s debt ratio to reach around 60% by 2030 and remain in the low 60% range by 2031.

Meanwhile, overall debt levels in advanced economies remain stable, but fiscal gaps between countries are widening.

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