Japanese government debt hits 1,008,600,000,000,000 yen
Japanese national debt has passed the one quadrillion yen mark – increasing 1.7 per cent to 1,008,600,000,000,000 yen (£673.039bn). This is larger than the economies of the UK, Germany and France combined and is about 230 per cent of GDP.
Earlier this week, the International Monetary Fund called on Japan to adopt a “credible” fiscal plan to wind down its debt. Prime minister Shinzo Abe is currently mulling one of the recommendations, which is to double the sales tax rate to ten per cent by 2015....MORE
