Japanese debt tops ¥1 quadrillion

|By:, SA News Editor

Japan's national debt has passed ¥1 quadrillion for the first time, increasing 1.7% on quarter in Q2 to ¥1,008.6T ($10.46T).

That's more than twice the size of Japan's GDP, and larger than the combined economies of Germany, France and the U.K.

The rise in debt comes as Japan debates whether to increase sales tax to 8% in April from 5% and then to 10% in 2015 in an attempt to shore up its finances. Moody's says that while raising the levy would hamper growth, Japan's ever-increasing debt risks eroding confidence in government bonds.

ETFs of interest include JGBT, JGBL, JGBS and JGBD.