Government liabilities, including the debt that will highly likely arise in the future, exceeded 900 trillion won ($840.3 billion) last year, data showed Tuesday.
According to the data recently submitted by the finance ministry to Rep. Kim Tae-ho of the ruling Saenuri Party, government liabilities stood at 902.1 trillion won as of end-2012. The number is higher than the 773.5 trillion won tallied a year earlier.
The 2012 figure represents 70.9 percent of the country's gross domestic product.
The liabilities include the government's current debt obligations and any future debt, which it will highly likely have, from various areas such as the operation of pensions for public servants.
Expenses from such pension operations cannot be accurately calculated at this moment, but they are sure to occur in the future, thereby causing the government liabilities to increase in the end.
Since 2011, the government has offered such data on debt in a bid to give a more objective perspective on the government's financial conditions. (Yonhap News)
