Japan end of June government debt hits record ¥1.3 trillion
The increase reflects the government's continued reliance on borrowing to manage finances as spending continues to exceed tax revenues.
Japan's central government debt reached a record ¥1.34 quadrillion by the end of June, a surge of ¥2.84 trillion compared to the previous quarter, according to the Ministry of Finance. The rise is attributed to the government's ongoing need to borrow due to spending surpassing tax income. Assuming a population of 122.9 million as of July 1, this debt translates to approximately ¥10.95 million per person.
General government bonds comprised ¥1.11 quadrillion of the total, a rise of ¥6.58 trillion from earlier reports, the ministry disclosed on Monday. Borrowing decreased by ¥3.78 trillion to ¥40.53 trillion, while short-term government securities rose by ¥2.09 trillion to ¥94.39 trillion. Forecasts predict that by the end of the fiscal year 2026, when the supplementary budget from June is included, total central government debt will amount to ¥1.49 quadrillion.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
