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![[Xinhua]](http://thebricspost.com/wp-content/uploads/2013/01/CHINAJAPAN-300x199.jpg)
The country’s debt is now more than twice the nation’s nominal GDP last year of about $4.84 trillion [Xinhua]
The announcement suggests Japan is now the most indebted country among advanced economies.
The country’s debt is now more than twice the nation’s nominal GDP last year of about $4.84 trillion.
Japan’s Finance Ministry also said the debt is expected to reach 1,107.1 trillion yen ($11.28 trillion) by the end of the current fiscal year, according to local media.
The debt consisted of $8.55 trillion in government bonds, $556.26 billion in borrowing mainly from financial institutions, and $1.19 trillion in financing bills, said Japan’s Kyodo News.
Friday’s figure exceeds a previous record of 1,008.6 trillion yen (about $10.28 trillion) set at the end of the second quarter of this year.
The government releases fiscal data every three months compiled according to International Monetary Fund standards.
Source: Agencies
