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Home » Archives » September 2005 » Japan's National Debt Hits New High

Japan's National Debt Hits New High

Saturday, September 24, 2005 Posted: 08:45 PM JST

Japan's government debt ballooned to a record high of JPY 795.8 trillion (USD 7 trillion) at the end of June, according to a report released by the Japanese Finance Ministry. It was projected to be JPY 774 trillion for this fiscal year, so the national debt is growing faster than expected.

Japan has relied on government bond issues to make up for falling tax revenues. This has turned the nation into one of the world's most indebted countries. Japan's public debt burden is now almost 160 per cent of its GDP, which makes it the highest in the industrialized world.

Keywords: national_news

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1 comments so far post your own

1 | At 05:29pm on Mar 20 2006, Harry van der Laan wrote:
Dear Madam/Sir,

The Japanese national debt per capita is frightening!

Question: who holds this debt, how much of it isowed to foreign investors?

HvdL
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