Business

Tokyo Takes a Serious Look at Public Debt

Sunday, June 13, 2010

Yen

Tokyo -- Finance Minister Yoshihiko Noda said today that government spending plans would be reviewed with an eye to reducing Japan's massive public debt.

In regard to Japanese public debt, which is nearly twice the size of the nation's GDP, Noda observed, "It's a very severe situation."

Only Zimbabwe, among all countries in the world, has a more unfavorable debt-to-GDP ratio.

Prime Minister Naoto Kan and his new financial team have been expressing concern for Japan's fiscal health for...

[ Article Continues in Member-Only Zone ]



© PanOrient News All Rights Reserved.




Business