S. Korea logs 15.2 tln won fiscal surplus through Aug.

SEOUL (Yonhap) - South Korea posted a fiscal surplus in the first eight months of the year that more than doubles that from a year earlier as the economic recovery helped boost tax revenues, the finance ministry said Friday.
The consolidated fiscal account, which reflects the central government's total income and expenditures, posted a 15.2 trillion won (US$13.75 billion) surplus during the January-August period, compared with a surplus of 6.2 trillion won a year earlier, according to the ministry.
The surplus increase stemmed mostly from increased tax revenue buoyed by the continued economic recovery.
The government's total income came to 204.6 trillion won, up 16.5 trillion won from a year earlier, with tax revenue growing 12.6 trillion won over the same period, the ministry said. The nation's expenditures increased 7.5 trillion won to 189.4 trillion won.
The country's economic growth stood at 3.4 percent on-year during the third quarter, the same pace seen the previous quarter.
The government earlier expected the economy to grow 4.5 percent for the year.
South Korea aims to achieve a balanced budget in 2013, one year ahead of its previous target, by cutting expenditures and broadening the overall revenue base.