Japanese debt reached alarming amount

The Japanese like to create debts

In brief: Japan is a country that makes a lot and a lot of loans, Tokyo no longer knows how to pay off all debts.

Debt in Japan reached a record amount of more than 880 trillion. yen, or nearly $ 9.5 trillion. that is at $ 74 thousand per person. Ministry of Finance said that by the end of March this year, the country’s debts, including public bonds and loans, increased in comparison with the previous year by $ 390 billion.

This record high levels due to the fact that the government has issued more government bonds to cover the budget deficit. The recent financial crisis has necessitated massive spending by the government in response to falling revenues from tax revenues.

Ukrainian Globalist
2010-05-11 21:32, Economics.

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