Japanese government debt hits record Y1 quadrillion as leaders struggle to correct course on spending

国の長期債務残高が初の1000兆円超え 財務省

yahoo.com -- May 11
The Japanese government's long-term debt has hit a record Y1 quadrillion (approximately $7.6 trillion) for the first time ever.

Japan reached the debt landmark in fiscal year 2021, which ended in March, according to Japan's Ministry of Finance. Japan's debt currently sits at approximately 266% of its annual GDP, making a swift turnaround unlikely.

This is the eighteenth year in a row that the Japanese government's long-term debt has risen, and the sixth consecutive year of record-breaking debt totals.

The build up of debt is a symptom of the increased pressure on the Japanese social security system and expensive COVID-19 spending during the height of the pandemic, as well as aggressive banking policies in Japan.

Japan's economic troubles are compounded by an aging workforce and a stagnant job market. The country has had a difficult time creating quality jobs, and has relied on a supplement of foreign migrant labor for low-skill positions.

With one of the lowest birth rates in the world, the Japanese government has implemented a variety of high-value incentives for young couples to have children. Government benefits for parents include financial assistance checks for each individual child and generously subsidized education costs.

財務省は税収で将来、返済しなければならない長期債務残高が1000兆円の大台を初めて超えたと発表しました。  今年3月末の借入金と国債、政府短期証券を合わせた政府債務は1241兆3074億円でした。  新型コロナ対策を国債の発行などで賄ったことなどで去年よりも24兆8000億円余り増加し、6年連続で過去最大となりました。  また、税収で将来、返済しなければならない長期債務残高は1017兆1000億円に上り、初めて1000兆円を超えました。  新規国債発行額は今年度の当初予算でも36兆円を超える計画で、財政の悪化に歯止めが掛からない状態です。 - ANNnewsCH