National debt has decreased by 400 billion won from the government's initial budget proposal during parliamentary deliberations.

According to the 2023 budget passed by the National Assembly on Saturday, national debt will top one-point-one quadrillion won for the first time next year after surpassing one quadrillion won this year.

The parliament has maintained the fiscal deficit level or the debt to GDP ratio at 49-point-eight percent as proposed by the government. 

The finalized budget is some 300 billion won smaller than the government bill. Four-point-two trillion won has been cut in budgets related to the environment, social overhead capital and defense, while three-point-nine trillion won has been increased in funds to support people's livelihood and the socially vulnerable.

Meanwhile, total revenue is reduced from the government-proposed 625-point-nine trillion won to 625-point-seven trillion.