Japan's government debt spikes to more than $10 trillionStaff Writer | August 11, 2016
The Ministry of Finance (MOF) in Japan said that the central government's debt as of the end of June had climbed in the past three months.
Economy in Japan The Ministry of Finance:
The ministry said that the central government's debt had climbed by 4.10 trillion yen ($40.41 billion) from three months ago, to stand at 1,053.47 trillion yen ($10.38 trillion) as of the end of June.
The mounting debt, at more than 240 percent of the national gross domestic product and the largest in the industrialized world, is partly attributable to costs related to the nation's rapidly aging population and financing the social security costs involved.
The ministry said that the debt is comprised of government bonds, financing bills and short-term government notes, as well as borrowing from financial institutions. ■