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Japan Debt Update: ¥1,020,000,000,000,000.00

• http://www.zerohedge.com, by Tyler Durden
 Japan’s national debt totaled a record-high ¥1.02 quadrillion as of the end of March, up ¥33.36 trillion from a year earlier, the Finance Ministry said.

 The central government debt, which increased ¥7.01 trillion from the end of December last year, kept rising mainly due to ballooning social security costs in line with the aging of the population.

 The balance of government bonds, financing bills and other borrowing crossed the ¥1 quadrillion line for the first time ever at the end of June 2013.

 The national debt stood at ¥8.06 million per capita, based on an estimated population of 127.14 million as of April 1.

 Finance Minister Taro Aso said the situation has become “very severe” because of slow progress in fiscal reforms.

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