Japan Government Debt Hits Record ¥1,072 Trillion (News)
Tokyo, May 10 (Jiji Press)—Japan's government debt hit a record ¥1,072 trillion at the March 31 end of fiscal 2016, up ¥22.19 billion from a year earlier, the Finance Ministry said Wednesday.
The debt growth resulted from stepped-up government bond placements amid rising social security costs and falling tax revenues, the ministry explained.
Based on the country's estimated population of 126.79 million as of April 1, the per-capita debt reached ¥8.45 million.
From the end of December 2016, the government debt, or the combined outstanding government securities, including financing bills, and borrowings, expanded by ¥5.14 trillion.
The ministry also said that the balance of ordinary government securities came to ¥830.57 trillion at the end of March, up some ¥25 trillion from a year earlier, and is expected swell to ¥865 trillion a year later.[Copyright The Jiji Press, Ltd.]