Japan’s public debt might go beyond 1 quadrillion yen

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters
Currently Japanese home debt is rising at a faster pace than was previously predicted and according to Ministry of Finance might surpass 1 quadrillion yen ($12.8 trillion) at the end of March 2012. Japan had planned to stick to deficit of ВҐ995.92 bln earlier this year; however, after updating forecasts, additional borrowing will be undertaken. Representatives of Finance Ministry say the surge in national debt was mainly caused by increased spending devoted to recover from overwhelming tsunami and earthquake in March 2011.

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