Jiji PressTOKYO (Jiji Press) — Japan’s national debt hit a record ¥1,105,435.3 billion at the end of June, up ¥2,081 billion from three months before, the Finance Ministry said Friday.
Per capita debt came to about ¥8.91 million, on the basis of an estimated population of 124.05 million as of Feb. 1, it said.
The national debt is the combined balance of government debt securities, borrowings and financing bills.
Due to growing social security costs from a graying population, the government continues to cover revenue shortfalls by issuing debt securities.
The balance of government debt grew ¥4,170.6 billion to ¥980,974.1 billion, led by an increase in long-term government bonds against the backdrop of low interest rates.
By contrast, the balance of borrowings and financing bills decreased ¥1,119.4 billion and ¥970.2 billion, respectively.