National debt rises to record 1,078 trillion yen

August 11, 2017

TOKYO- Japan's national debt hit a record 1,078,966.4 billion yen at the end of June, the Finance Ministry said Thursday.

The national debt, or the combined balance of Japanese government bonds, securities and borrowings, increased 7,407 billion yen from three months before.

Per capita debt came to 8.51 million yen, based on Japan's estimated population of 126.75 million as of July 1.

Of the total, JGBs accounted for 945,231.5 billion yen, up 10,331.3 billion yen. Long-term JGB issuance increased on the back of superlow interest rates.

The government also boosted bond issuance to cover the cost of compensation for people affected by the nuclear accident at Tokyo Electric Power Company Holdings Inc.'s Fukushima No.1 power station.

Meanwhile, the balance of borrowings and short-term securities decreased. Jiji Press