Japan's national debt has risen to a record high for a sixth year in a row, partly due to ballooning social security costs and partly because of government spending to deal with the coronavirus pandemic.
The Finance Ministry says the debt stood at 1,241 trillion yen, or about 9.5 trillion dollars, at the end of March. That is up 190 billion dollars from a year earlier. Nearly 90 percent of the debt is from government bonds.
The country's fiscal health is likely to get worse in the near-term as the government plans to issue new bonds worth 36.9 trillion yen or about 280 billion dollars to finance spending in its initial budget for fiscal 2022.
The Finance Ministry says the debt stood at 1,241 trillion yen, or about 9.5 trillion dollars, at the end of March. That is up 190 billion dollars from a year earlier. Nearly 90 percent of the debt is from government bonds.
The country's fiscal health is likely to get worse in the near-term as the government plans to issue new bonds worth 36.9 trillion yen or about 280 billion dollars to finance spending in its initial budget for fiscal 2022.
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Summary
Japan's national debt reached a record high for the sixth consecutive year, with an increase attributed to escalating social security expenses and pandemic-related government spending. The Finance Ministry reported a debt of 1,241 trillion yen, approximately 9.5 trillion dollars, at the end of
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ID: 627a415d-cf24-4046-8dec-625dc0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220510_36/
Date: May 10, 2022
Created: 2022/05/10 19:41
Updated: 2025/12/09 16:28
Last Read: 2022/05/10 19:41