Japan has 12 Trillion Debt
Japan has 12 Trillion Debt and is still printing money.
Japan’s outstanding debt, including government bonds and borrowings, will be over 1,100 trillion yen, or about 12 trillion dollars by the end of March 2014, Japan’s Finance Ministry officials said.
The sum is more than double Japan’s GDP, and equates to over 94,000 dollars per citizen, according to Japan’s (NHK World) website. The estimate comes as the government submitted the fiscal 2013 draft budget bill to the Diet on Thursday worth about one trillion dollars.
The government plans to issue new bonds worth some 463 billion dollars to make up for a shortfall of revenue. The move reflects Prime Minister Shinzo Abe’s willingness to boost the economy by increasing government spending.
Government officials plan to come up with new fiscal consolidation measures this summer. But it faces the challenge of compiling specific ways to cut spending such as designing an efficient social security system.
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Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
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Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
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