Japan Debt Costs to Hit Record 36.64 Trillion Yen
Japan's finance ministry expects debt costs to rise 17% to a record 36.64 trillion yen next fiscal year. The surge reflects higher assumed interest rates and government expansionary policies.
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Japan's debt-servicing costs will rise 17% to a record 36.64 trillion yen ($230 billion) in the next fiscal year, Kyodo News reported on Tuesday morning. The increase reflects an assumed interest rate set at a 29-year high of 3.8%. The mounting obligations add heavy pressure to the country's public finances as total budget requests surpass 130 trillion yen.
