16:25 - 10.02.2025

---

February 10, Fineko/abc.az. As of the end of 2024, Japan's public debt grew to the highest level in country's history, reaching almost 1.317 trillion yens (almost $8.7 trillion), ABC.AZ reports with reference the Japanese Ministry of Finance.

The amount of debt grew by 31.8 trillion yens (over $205 billion) compared with the situation at the end of 2023. According to Kyodo news agency, the current Japanese government is unlikely to be able to reduce debt, as it does not have a majority in the lower house of parliament approving the State Budget and is under pressure from the opposition demanding lower taxes and increased spending, in particular on education.

Japan's budget deficit in the current fiscal year (April 2024-March 2025) is 34.95 trillion yens (almost $230 billion). It is covered by issuing government bonds. Their amount has been decreasing over the past three years, but the dependence of Japan's budget on debt obligations remains at around 30%. The national debt of the country exceeds national GDP more than 2-fold. At that, the vast majority of government bonds are in the hands of Japanese legal entities and individuals, which reduces the risk of default.