Japan FY 2021 long-term debt hits new high above 1,000 tril. yen

The balance of long-term Japanese government debt surpassed 1,000 trillion yen ($7.7 trillion) for the first time in fiscal 2021 ended in March to reach its highest-ever level, the Finance Ministry said Tuesday.The debt grew to 1,017.1 trillion yen, breaking records for the 18th consecutive year, on the back of swelling social security costs amid rapid aging of the population and emergency spending in response to the coronavirus pandemic.The long-term debt balance, which excludes some types of bonds, increased 44 trillion yen from the previous year. The expansion of debt put the world's thi…READ FULL ARTICLE