Japan’s public debt problem

Japanese public debt (photo:dpa)
Japanese public debt (photo:dpa)

Japan’s national finances are more critical than many EU countries. But the value of its currency remains high because it is viewed as a safe haven for foreign investors. This situation could change if confidence is eroded.

JAPAN’S financial situation is more critical than Italy, Spain or even Greece at first glance.

The country’s total government debt amounts to 10 trillion yen or US$13.5 trillion, which breaks down to 8 million yen or US$107,000 per person.

The national debt equals about 225 per cent of GDP and the government relies on new borrowing for nearly half of annual spending.

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