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Japan government debt hits record high
November 8, 2013, 10:19 am


The country’s debt is now more than twice the nation’s nominal GDP last year of about $4.84 trillion [Xinhua]

Japan’s central government debt hit a record of 1,011.2 trillion yen (about $10.30 trillion) at the end of September, according to the country’s Finance Ministry.

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

One Response to Japan government debt hits record high

  1. dwayne Reply

    November 17, 2013 at 4:07 am

    News flash!!! The IMF will never print enough money to feed us all. The current economic model relies on 25% of the world’s population to be in poverty. Currently, almost 50% live in poverty when real terms are used. Government’s math and my math doesn’t compute. This is known as control. Another fundamental element is gross imbalance of wealth. America no longer has Capitalism. Big money buys the candidate they want which is a form of dictatorship. The elected officials give themselves built in pay raises with lifetime pay raises, pensions and family benefits which is a form of socialism. Finally, they put family and friends in places of power within the corporate world so they can give them uncontested contracts which is a form of corruption.

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