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Government debt hit a record high of Japan became the first global debt

In order to boost the flagging economy, Japan Government to expand stimulus, while Japan's government debt is like a snowball rolling more.
on Friday, Japan's Ministry of Finance released data showing that as of September 30, including government bonds, loans and Bill finance three projects, total government debt reached a record high, reaching 983.295 trillion yen (about 77.3 trillion yuan). In addition, Japan's Ministry of Finance announced on Government-guaranteed debts amounting to 45.51 trillion yen (about 3.58 trillion yuan).
it is understood that Japan's Ministry of Finance according to the International Monetary Fund (IMF) provides standards, published once every three months the national debt balance, total national debt released this last data increased 7.1 trillion yen announced in late June, 959.95 trillion yen a year earlier, rose 2.43%. According to Japan's Kyodo News Agency predicted end of the 2012 fiscal year, Japan government debt will reach 1085 trillion yen (about 85.28 trillion).
the above data has once again increased over Japan financial crisis concerns. Japan 2011 GDP to 502 trillion, according to data released by the Finance Ministry on Friday, Japan central government debt is approaching twice times its GDP last year, the world's third-largest economy has become worthy of the first country of the global debt.
billions of yen of government debt, the largest share of government bonds, to 803.74 trillion yen, accounting for 81.74% of the total government debt, 14.4 trillion yen more than last year. Among them, contain Japan earthquake reconstruction of 14.1 trillion yen "Renaissance debt" General bond, the amount of 688.21 trillion yen, 85.63% per cent of total government bonds. All kinds of government bonds in the fiscal investment and loan program bonds only (107.55 trillion yen), as well as for government bonds issued by the Fund for liability for nuclear damage (3.67 trillion yen) two, end of June than the data down, reduce the 2.52 trillion yen and 320 billion yen, respectively.
in addition, the Bill financing 125.37 trillion yen, accounting for 12.75% of the total government debt. To borrow from private financial institutions such as 54.19 trillion yen, accounting for 5.51% of the total, including long-term borrowings 17.62 trillion, down 3.35% from a year earlier; short-term borrowing 36.57 trillion, up 1.06 trillion from a year earlier.
since World War II, Japan in economies in Europe and was established on the basis of its financial system model-use of national savings and investment. This model is a middle-class entrepreneurs and an important factor in the rapid accumulation of wealth. But the economic success of the model is very fragile. Now Japan takes about half the Government's budget is spent each year in pension payments and debt interest. As Japan national pension plan must be purchased for each of a large number of government bond to shore up government spending, Japan government debt creditor 95% are their own citizens. According to Ministry estimates October 1 Japan 127.53 million people of the total population, per capita debt of about 7.71 million yen.
at the same time, last week published on 4th September current account, for more than 30 years, was in the red for the first time. Economists said that if the current-account deficit continues, Japan "Greece" a tragedy of the financial crisis may not be far behind. However, after the Central Government energy vacancies due to make up for the nuclear power plant accident, purchased large quantities of fossil fuels lead to substantial growth in imports, so the September current account deficit may only be temporary. Japan's Ministry of finance Senior Deputy Minister, Okubo was unwilling to talk about, says with a quiet understatement, "monthly current account balances is fluctuations in value. "
Masaaki Kanno, Chief Economist at JP Morgan Chase Tokyo (Masaaki Kanno) said they were not optimistic about this, in his view," the crisis may be worse than we think sooner rather than later. "   
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