Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Government finances in Japan - statistics & facts
Japan has the largest debt-to-GDP ratio among advanced economies in the world. Since the economic recession in the early 1990s, the Japanese government has established a national budget structure in which spending exceeds revenue and that is highly dependent on public bonds. This has resulted in massive amounts of outstanding debt and debt-servicing costs. After spending spiked due to the COVID-19 pandemic, the government has pledged to bring its fiscal balance back on track in the coming fiscal years.
