The government has suggested that it could fail to hit its tax revenue target this year.

During a tour of Samsung Electronics’ Pyeongtaek Campus on Friday, finance minister Choo Kyung-ho said there is a strong possibility that this year’s tax earnings will fall short of the 400-point-five trillion-won target set late last year.

In the first two months of this year, the government is estimated to have collected 15-point-seven trillion won less in tax revenue. If it continues to collect taxes at such a rate from March to the end of the year, the government is expected to be some 20 trillion won short of the predicted target.

Choo said tax earnings are set to be sluggish through the first half of the year, adding that asset markets and progress in the economic recovery will likely have an impact on such earnings.

On future inflation trends, Choo said if no variables emerge, he expects consumer prices to drop steadily to the three-percent range between this and next month, while adding that the government will soon make a decision on electricity and gas rate hikes.

Also on Friday, the minister dismissed the possibility of South Korea and the U.S. adopting a currency swap deal ahead of a summit between their leaders, saying that any such accord is a matter that should be dealt with by the central banks of the two countries.