S Korea may miss govt revenue target this year too

Seoul

SOUTH Korea's persistently rosy assumptions about government finances risk derailing public spending in a year when exports and other engines of growth are sputtering.

The government expects its 2015 revenue to rise 8.1 per cent from last year's actual receipts. But that target is increasingly looking elusive. The goal is based on assumptions of 4 per cent economic growth and 2 per cent inflation, both about one percentage point above market estimates.