Government debt of 1114 trillion yen, record high government bonds and debts, etc.
So-called “national debt”, which includes government bonds and debts, reached a record high of 1114 trillion yen at the end of March.
According to the Ministry of Finance, the government debt, which is a combination of government bonds, debts, and government short-term securities, the so-called “national debt” amounted to ¥ 11,145.0 billion at the end of March.
It increased by 11,185.6 billion yen from a year ago, the highest ever for four consecutive years.
This is because, as the aging of society leads to a sharp increase in social security costs such as medical care, long-term care, and pensions, the amount that cannot be covered by tax revenue is being supplemented by the issuance of new debt.
The breakdown is government bonds of ¥ 987.588 trillion, government short-term securities issued for short-term financing of ¥ 74,418.8 billion, and borrowings of ¥ 52,532.5 billion.
The supplementary budget for this fiscal year, which was created in response to the spread of the new coronavirus infection, relies on the issuance of government bonds for all of the financial resources for expenditures of more than 25 trillion yen.
It is expected that further fiscal stimulus will be required for economic measures in the future, and the state's finances will become even more difficult.