Japan’s government debt hits 30-year high
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Japanese budget requests for the upcoming fiscal year have reached a record high equivalent to levels seen during the COVID-19 pandemic, totaling 143.1 trillion yen ($917.78 billion). This increase is part of an expansionary agenda led by Prime Minister Sanae Takayashi, which has contributed to a rise in government borrowing costs to their highest level in three decades, accompanied by increased bond issuance and a boost in investment in strategic sectors such as artificial intelligence and semiconductors. This surge exceeds the spending allocated during the COVID-19 pandemic and highlights the government's focus on strengthening financial expenditures and expanding borrowing in the next two years.
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