The managed fiscal balance, a key gauge of the nation's fiscal health, posted a deficit of more than 64 trillion won, or around 47 billion U.S. dollars, during the first four months of the year.

According to data from the finance ministry on Thursday, total revenue between January and April stood at 213-point-three trillion won and total expenditure stood at 260-point-four trillion won, leading to a consolidated fiscal balance deficit of 47-point-one trillion won.

Subtracting the balance of social security funds, the managed fiscal balance recorded a deficit of 64-point-six trillion won.

The managed fiscal balance deficit slightly dropped from 75-point-three trillion won recorded during the January-to-March period, reflecting rises in fund revenue and non-tax receipts in April.

Revenue from state taxes, meanwhile, fell by six-point-two trillion won year-on-year in April, due largely to poor business performance that led to a 12-point-eight trillion won drop in corporate taxation.