South Korea posted a record deficit in its consolidated fiscal balance in the first ten months of the year. 

According to data from the Finance Ministry on Tuesday, the country's gross revenue came to 406-point-two trillion won in the January-October period, up two-point-nine trillion won from a year earlier. Expenditures totaled 417-point-six trillion won, up 43 trillion won on-year. 

Accordingly, the country posted a deficit of eleven-point-four trillion won in the cited period, the largest since the country began compiling related data in 2000.

The country's consolidated fiscal balance is determined by fiscal spending against tax revenue and returns from public fund management. 

The government said that the deficit was mainly attributed to increased fiscal spending.