Japan's debt had reached 8.5 trillion dollars

National Debt of Japan declined slightly, but remained the largest among the other industrialized countries. According to the Japanese Ministry of Finance, the responsibilities of government in late March, after the 2008 financial year amounted to 846.5 trillion yen (about 8.5 trillion dollars at current exchange rates). According to the ITAR-Tass, it is nearly 2.74 trillion yen (27.4 billion dollars) less than a year earlier. In per capita debt of almost 65 thousand dollars.

The growth of domestic debt in Japan is considered one of the most serious problems of national economy. It arises from the fact that over time compensate for the lack of government tax revenue massive emission of government securities. Budgets in recent years included the containment of the release gosobligatsy, and the Government aims to ensure that in 2011 revenue exceeded expenditure without regard to State obligations.

However, in the current global financial crisis, the Japanese authorities decided to temporarily revise the approach for the period up to improve the business situation in the country and recently re-released a major package of government bonds to stimulate the economy in the 2009 fiscal year. Now Japan's debt already exceeds 170% of GDP and is the largest among the industrialized countries