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Japan's domestic debt, the so-called "long-term debt" that will need to be repaid from taxes collected, has exceeded 1,000 trillion yen (about $7.69 trillion at today's exchange rate) for the first time in history, Kyodo news agency reported, referring to the finance ministry’s data.
The debt stood at 1,017 trillion yen ($7.82 trillion) at the end of the previous fiscal year (April 1, 2021 to March 31, 2021). The increase in long-term liabilities of states has been going on for 18 years, but this is the first time the amount has exceeded 1,000 trillion.
Together with investment debts and short-term loans, which normally go towards filling current budget shortfalls, are added to these debt obligations, Japan's total domestic public debt stands at 1,241 trillion ($9.55 trillion).
source: kyodonews.net
The debt stood at 1,017 trillion yen ($7.82 trillion) at the end of the previous fiscal year (April 1, 2021 to March 31, 2021). The increase in long-term liabilities of states has been going on for 18 years, but this is the first time the amount has exceeded 1,000 trillion.
Together with investment debts and short-term loans, which normally go towards filling current budget shortfalls, are added to these debt obligations, Japan's total domestic public debt stands at 1,241 trillion ($9.55 trillion).
source: kyodonews.net
