News Column

Japan gov't debt at record 1,039 trillion yen at end of June

August 8, 2014

Japan's central government debt stood at 1,039 trillion yen ($10.2 trillion) at the end of June, surpassing the previous record of 1,025 trillion yen three months earlier, the Finance Ministry said Friday.

The ministry also projected the debt would increase to 1,143 trillion yen by March 31, 2015, the end of the current fiscal year, and called for more efforts by Prime Minister Shinzo Abe's administration to restore the country's fiscal health, the worst among major developed countries.

According to the quarterly survey, the latest total consisted of 864 trillion yen in government bonds, 55 trillion yen in borrowing mainly from financial institutions, and 121 trillion yen in financing bills, or short-term government notes up to six months.

Per-capita debt -- or the amount owed per head of population -- came to about 8.18 million yen given that Japan's population stood at around 127.1 million as of July 1. The central government debt is also more than double the nation's nominal gross domestic product of about 482 trillion yen in fiscal 2013.

The fiscal data is compiled according to International Monetary Fund standards.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Japan Economic Newswire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters