Tuesday, 26th February 2008
In General Japan News,
National debt reaches 'record levels'
National debt levels in Japan have risen significantly over the final quarter of 2007, it has been confirmed.
Data released by the country's ministry of finance confirms that debt levels have increased since September 30th 2007 to ¥838.005 trillion.
The rise represents an increase of ¥4.307 trillion, reports Kyodo News.
"In the terms of the ratio of general government debt to GDP, some developed countries were steadily implementing fiscal consolidation in the late 1990s," said Ministry of Finance Japan, in a report entitled Current Japanese Fiscal Conditions and Issues to be Considered.
"However, Japan's gross debt has rapidly worsened."
Per capital debt levels, over the same period, have reached a total of ¥6.56 million
For the period up to March 31st 2008, Ministry of Finance Japan will release its findings on May 9th.
In other news, the ministry has also confirmed the rapid speed at which Japan's society is aging, in comparison to all other developed countries.