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BIBLIOGRAPHY

Considering Japan's Finances (Fiscal-Related Materials, Simplified Version, April, Reiwa 8).

Ministry of Finance

Claims Supported by This Source

  1. The national general account expenditure for the fiscal year 2026 budget is 122.3 trillion yen. The breakdown is: social security 39.1 trillion yen (31.9%), national debt service 31.3 trillion yen (25.6%), local allocation tax grants, etc. 20.9 trillion yen, defense 9.0 trillion yen, public works 6.1 trillion yen, education 6.0 trillion yen, and others.
  2. National debt service is the cost of redeeming government bonds (principal repayment) and making interest payments.
  3. Of the 122.3 trillion yen in general account revenue for the fiscal year 2026 budget, government bonds account for 29.6 trillion yen (24.2%), income tax 25.3 trillion yen (20.7%), corporation tax 20.7 trillion yen (16.9%), consumption tax 26.7 trillion yen (21.8%), other tax revenues 11.0 trillion yen, and other revenues 9.0 trillion yen.
  4. Tax revenues and other income cover only about three-quarters of total expenditures, with the remaining quarter dependent on government bonds (debt).
  5. The balance of ordinary government bonds is expected to reach 1,145 trillion yen by the end of fiscal year 2026, and Japan's outstanding debt exceeds twice its GDP.
  6. In fiscal year 1990, general account expenditure was 66.2 trillion yen, with revenues from taxes and other sources at 60.6 trillion yen and government bonds at 5.6 trillion yen.

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