Japan’s Ministry of Finance made an initial request of ¥32.4 trillion ($219 billion) for next fiscal year’s debt financing needs, reflecting the impact from rising Japanese bond yields.
The requested amount was up around 15% from the previous fiscal year’s initial budget, according to documents seen by Bloomberg Tuesday. That compares with overall inflation at around 3% over the past year. If approved, the ministry’s request would be the highest amount ever budgeted for debt-servicing costs, which already account for about a quarter of Japan’s national budget.
AloJapan.com