POST Online Media Lite Edition



 

Japan’s government debt hits record high of more than $10.46 trillion

Staff writer |
The central government’s debt hit a record high of ¥1.057 quadrillion, more than $10.46 trillion, at the end of June, up by some ¥3.87 trillion from the end of March, according to the Finance Ministry.

Article continues below






The national debts, or the combined balance of outstanding Japanese government bonds, financing bills to cover temporary funding shortfalls and borrowings, increased due to rising social security costs, including on medical care and pensions, amid the aging of society.

The latest figure means that the government owed ¥8.32 million per person based on the nation’s estimated population of 126.95 million as of July 1.

Of the total, general government bonds accounted for ¥784.1 trillion, up by ¥10 trillion from the end of March.

Meanwhile, the balance of financing bills decreased by ¥1.76 trillion to ¥115.13 trillion thanks to higher tax revenue.


What to read next

Companies and people in Japan not willing to invest cash
Targeted fiscal measures help against record-high global debt
U.S. household debt tops 2008 peak with $12.73 trillion