Japan’s national debt, the total outstanding balance of government bonds, loans and financing bills, reached a new record of Yen 1,270 trillion.
Compared to March 2022, there was an increase of 29.2 trillion yen, due to government actions.
This year 2023 marks the seventh consecutive year in which debt has risen to its highest levels to date.
Based on an estimate of Japan’s population of 122 million (as of 1 November 2022), it appears that the per capita share of newborn-age children in public debt exceeded 10.4 million yen. Last year marked the first time that debt per capita exceeded 10 million yen and has now increased further.
The main increase in debt was due to an increase in the issuance of government bonds from the previous year, which accounted for the bulk of the debt, by 31.7 trillion yen to 1,136 trillion yen. The balance due to public bonds that must be repaid through taxes in Japan also increased to Yen 1028 trillion.
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