Japan’s level of gross public
debt-to-GDP has been growing
almost without interruption
since the 1960s, swelling from
51% in 1980 to 246% in 2015,
and a projected18 252% in
2020; with the most dramatic
increase occurring since 1990.
A significant part of the Japanese budget – some 10%
of government revenue – is
spent on interest payments
each year, while debt servicing
in general, which includes both
interest payments and debt
redemption, accounts for approximately a quarter of the budget. Although net public
debt is much lower, at 134% in 2013, it still represents a substantial burden.
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