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Japanese government plans to reduce the ratio of public debt to GDP
An influential advisory body to the government of Japan is finalizing proposals on how to reduce, beginning from 2021 fiscal year, the ratio of government debt to GDP of the country.
The Council on Economic and Fiscal Policy of Japan plans to finalize the program of medium-and long-term fiscal recovery to the next month.
By March next year, when Japan will end the current fiscal year, total public debt in Japan, including the debt of the central government and local authorities to reach the amount in excess of $ 9 trillion 100 billion.
This means that the national debt would fit more than 190 percent of gross domestic product in Japan. For this indicator, Japan is the largest debtor among industrialized countries.