Japan FY 2025 Debt-Servicing Costs Seen Hitting Record 28 T. Yen
Tokyo, Aug. 19 (Jiji Press)--The Japanese government's costs of repaying government bonds and paying interest on them for fiscal 2025 are seen hitting a record 28,911.6 billion yen, it was learned Monday.
The Finance Ministry plans to include the amount in its general-account budget request for the year from April 2025.
The interest rate used to calculate the debt-servicing costs will rise to 2.1 pct, reflecting higher yields on long-term government bonds after the Bank of Japan ended its massive monetary easing campaign.
The interest rate was kept at a record low of 1.1 pct for seven consecutive years through fiscal 2023 but raised to 1.9 pct for fiscal 2024, the first increase in 17 years.
The government's general-account budget for fiscal 2024 exceeded 112 trillion yen to hit the second highest level on record, with debt-servicing costs accounting for about 27 trillion yen.
(2024/08/19-20:57)
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