Japan’s government debt hits record high of more than $10.46 trillionStaff writer ▼ | August 12, 2015
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.
Asia According to the Finance Ministry:
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. ■