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- Japan_public_debt abstract "The Japanese public debt exceeded one quadrillion yen (US$10.46 trillion) in 2013, more than twice the annual gross domestic product of Japan.In August 2011, Moody's rating cut Japan's long-term sovereign debt rating by one notch to Aa3 from Aa2 inline with the size of the country's deficit and borrowing level. The large budget deficits and government debt since the 2008-09 global recession and followed by earthquake and tsunami in March 2011 made the rating downgrade. In 2012 the Organization for Economic Cooperation and Development (OECD) Yearbook editorial (Gurría 2012) stated that Japan's debt "rose above 200% of GDP partly as a consequence of the tragic earthquake and the related reconstruction efforts. Former Prime Minister Naoto Kan called the situation "urgent".In order to address the Japanese budget gap and growing national debt, in June 2012 the Japanese National Diet, at the urging of Prime Minister Yoshihiko Noda of the Democratic Party of Japan, passed a bill to double the national consumption tax to 10%. The new bill increases the tax to 8% by April 2014 and 10% by October 2015. The goal of this increase was to halt the growth of the public debt by 2015, although reducing the debt would require further measures. The DPJ subsequently lost control of the Diet in late 2012, and Noda's successor Shinzo Abe, of the Liberal Democratic Party, implemented the "Abenomics" program, which involved an additional 10.3 trillion yen of economic stimulus spending to balance out the negative impact of the consumption tax increase on economic growth.Abenomics led to rapid appreciation in the Japanese stock market in early 2013 without significantly impacting Japanese government bond yields, although 10-year forward rates rose slightly. Around 70% of Japanese government bonds are purchased by the Bank of Japan, and much of the remainder is purchased by Japanese banks and trust funds, which largely insulates the prices and yields of such bonds from the effects of the global bond market and reduces their sensitivity to credit rating changes. Betting against Japanese government bonds has become known as the "widowmaker trade" due to their price resilience despite fundamentals to the contrary.Notwithstanding the stability of the market for Japanese government debt, the cost of servicing Japan's public debt uses up half of the state's tax revenues, and the cost of importing energy in the wake of the 2011 Fukushima disaster has also negatively impacted Japan's longstanding current account surplus.".
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- Japan_public_debt wikiPageLength "4798".
- Japan_public_debt wikiPageOutDegree "26".
- Japan_public_debt wikiPageRevisionID "668393326".
- Japan_public_debt wikiPageWikiLink 2011_Tōhoku_earthquake_and_tsunami.
- Japan_public_debt wikiPageWikiLink Abenomics.
- Japan_public_debt wikiPageWikiLink Bank_of_Japan.
- Japan_public_debt wikiPageWikiLink Bond_market.
- Japan_public_debt wikiPageWikiLink Category:Economy_of_Japan.
- Japan_public_debt wikiPageWikiLink Category:Government_debt_by_country.
- Japan_public_debt wikiPageWikiLink Category:Government_finances_in_Japan.
- Japan_public_debt wikiPageWikiLink Category:Government_of_Japan.
- Japan_public_debt wikiPageWikiLink Consumption_tax.
- Japan_public_debt wikiPageWikiLink Current_account.
- Japan_public_debt wikiPageWikiLink Democratic_Party_of_Japan.
- Japan_public_debt wikiPageWikiLink Economic_stimulus.
- Japan_public_debt wikiPageWikiLink Fukushima_disaster.
- Japan_public_debt wikiPageWikiLink Government_debt.
- Japan_public_debt wikiPageWikiLink Great_Recession.
- Japan_public_debt wikiPageWikiLink Gross_domestic_product.
- Japan_public_debt wikiPageWikiLink Japanese_yen.
- Japan_public_debt wikiPageWikiLink Liberal_Democratic_Party_(Japan).
- Japan_public_debt wikiPageWikiLink List_of_countries_by_public_debt.
- Japan_public_debt wikiPageWikiLink Monetary_and_fiscal_policy_of_Japan.
- Japan_public_debt wikiPageWikiLink Moodys.
- Japan_public_debt wikiPageWikiLink Moodys_Investors_Service.
- Japan_public_debt wikiPageWikiLink Naoto_Kan.
- Japan_public_debt wikiPageWikiLink National_Diet.
- Japan_public_debt wikiPageWikiLink Organisation_for_Economic_Co-operation_and_Development.
- Japan_public_debt wikiPageWikiLink Organization_for_Economic_Cooperation_and_Development.
- Japan_public_debt wikiPageWikiLink Public_debt.
- Japan_public_debt wikiPageWikiLink Shinzo_Abe.
- Japan_public_debt wikiPageWikiLink Shinzō_Abe.
- Japan_public_debt wikiPageWikiLink Stimulus_(economics).
- Japan_public_debt wikiPageWikiLink Yoshihiko_Noda.
- Japan_public_debt wikiPageWikiLinkText "Japan public debt".
- Japan_public_debt wikiPageWikiLinkText "the second largest public debt of any nation".
- Japan_public_debt hasPhotoCollection Japan_public_debt.
- Japan_public_debt wikiPageUsesTemplate Template:Economy_of_Japan.
- Japan_public_debt wikiPageUsesTemplate Template:Reflist.
- Japan_public_debt subject Category:Economy_of_Japan.
- Japan_public_debt subject Category:Government_debt_by_country.
- Japan_public_debt subject Category:Government_finances_in_Japan.
- Japan_public_debt subject Category:Government_of_Japan.
- Japan_public_debt type Economy.
- Japan_public_debt comment "The Japanese public debt exceeded one quadrillion yen (US$10.46 trillion) in 2013, more than twice the annual gross domestic product of Japan.In August 2011, Moody's rating cut Japan's long-term sovereign debt rating by one notch to Aa3 from Aa2 inline with the size of the country's deficit and borrowing level. The large budget deficits and government debt since the 2008-09 global recession and followed by earthquake and tsunami in March 2011 made the rating downgrade.".
- Japan_public_debt label "Japan public debt".
- Japan_public_debt sameAs m.0k9fb4c.
- Japan_public_debt sameAs Q6158049.
- Japan_public_debt sameAs Q6158049.
- Japan_public_debt wasDerivedFrom Japan_public_debt?oldid=668393326.
- Japan_public_debt isPrimaryTopicOf Japan_public_debt.