The nation's fiscal deficit reached an all-time high of over 75 trillion won, or around 55 billion U.S. dollars, in the first three months of this year.

According to the finance ministry's monthly report on Thursday, the government's total revenue came to 147-point-five trillion won in the January-March period, up two-point-one trillion won from a year earlier.

Tax revenue fell two-point-two trillion won year-on-year to 84-point-nine trillion won, as corporate tax collection fell five-point-five trillion won due to weak corporate performance. Income tax revenue also dropped 700 billion won.

Total expenditures rose 25-point-four trillion won year-on-year to 212-point-two trillion won, with "prompt enforcement" expenditure aimed at boosting domestic demand and supporting vulnerable groups reaching 41-point-nine percent of the planned annual amount as of the end of March.

The managed fiscal balance, calculated on a stricter term, posted a deficit of 75-point-three trillion won in the January-to-March period, the highest for the period since the ministry began compiling data on the monthly balance in 2014.

Meanwhile, the central government's debt came to one-quadrillion-116-trillion won as of the end of March, down four-point-nine trillion won from a month earlier.