According to the data, this marks a 24.54 trillion-yen increase compared to the previous year.
The debt burden continues to face upward pressure due to surging social security liabilities, military spending, debt service payments, which are being intensified by higher government bond yields and an overall increase in long-term interest rates.
According to the Ministry of Finance, in late December, the government’s liabilities were composed of 1,197.64 trillion yen in government bonds, 44.13 trillion yen in borrowings, and 100.40 trillion yen in financing bills.
Long-term borrowing costs have been climbing amid market expectations that the Bank of Japan will persist with interest rate hikes. At the same time, concerns over Japan’s fiscal health have deepened following Prime Minister Takaichi’s pledge to pursue aggressive fiscal expansion.
As reported earlier, Japan’s ruling LDP won over 2/3 lower house majority under PM Takaichi.
AloJapan.com