Japan's public debt hits record 11 trillion USD by December

18:48, February 10, 2011      

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The outstanding debt of the Japanese government reached a record high of 919.15 trillion yen (about 11. 12 trillion U.S. dollars) as of December 2010, local media reported on Thursday.

The balance of debt includes 753.81 trillion yen in government bonds, 55.01 trillion yen in borrowings chiefly from private- sector financial institutions and 110.29 trillion yen in bills to meet short-term financing needs, Kyodo News reported, citing the Finance Ministry.

The country's per-capita debt stood at 7.21 million yen in December compared with 7.13 million yen in September.

Japan's public debt is set to exceed twice the size of the economy this year and reach 210 percent of gross domestic product in 2012, the highest among industrial countries tracked by the Organization for Economic Cooperation and Development.

Source: Xinhua
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