Tokyo, May 8 (Jiji Press)–Japan‘s national debt grew to a record 1,114,540 billion yen by the end of March, the Finance Ministry said Friday.
Based on the country’s estimated population of 123.68 million as of Nov. 1 last year, per capita debt came to some 9.01 million yen.
The outstanding balance of national debt was up 3,759.3 billion yen from the end of December 2019, 3,349.7 billion yen of which were short-term securities issued to cover for temporary shortages of funds.
The balance of government bonds grew by 339.1 billion yen to 987,588.6 billion yen, reflecting an increase in long-term bonds against a backdrop of low interest rates.
The balance of national debt is expected to grow further as the fiscal 2020 supplementary budget, enacted last month, boosted the annual issue amount of new government bonds to a record 58,247.6 billion yen.