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ECONOMY

Japan national debt rises to record 1,100 trillion yen

  • February 8, 2019
  • , Jiji Press , 5:41 p.m.
  • English Press

Tokyo, Feb. 8 (Jiji Press)–Japan’s national debt stood at a record 1,100,526.6 billion yen at the end of last year, the Finance Ministry said Friday.

Per capita debt came to 8.85 million yen, up 70,000 yen from three months before, based on the estimated population of 124.35 million as of Aug. 1 last year, it said.

The national debt, which comprises government bonds, borrowings and financing bills, was up 8,758.1 billion yen, of which government bonds accounted for 7,797.9 billion yen.

With social security costs growing amid the aging of the population, the government covers revenue shortfalls by issuing government bonds.

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