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State of the Japanese Economy in 2010




General Account Budget
Debt Situation
Trends in General Account Tax Revenues, Total Expenditures, Government Bond Issues
Government Bond Issues and Bond Dependency Ratio
Trends of Major Expenditures in the General Account
General Account Revenues
General Government Gross Debt (International Comparison)


GENERAL ACCOUNT BUDGET (REVENUES AND EXPENDITURES)

General Account Budget

(Note 1) It's the first time since FY1946 that Tax and Stamp Revenues fall below Government Bond Issues.
(Note 2) Other Revenues in FY2008 settlement include carried-over surpluses in the previous fiscal year (2,710.9 billion yen) and transfers from the Settlement Adjustment Fund (718.2 billion yen).
(Note 3) FY2010 initial budget expenditures in the general account include the repayment of the fund of compensation for the shortfall at FY2008 settlement (718.2 billion yen) in addition to the above items.
(Note 4) General Account Primary Balance is calculated based on the easy-to-use method of National Debt Service minus Government Bond Issues, and is different from the Central Government Primary Balance on an SNA basis.
(Source) Japanese Ministry of Finance

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DEBT SITUATION

Debt Situation

(Note 1) GDP for FY2008: Actual; FY2009: Estimates; FY2010: Forecast.

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TRENDS IN GENERAL ACCOUNT TAX REVENUES, TOTAL EXPENDITURES, AND GOVERNMENT BOND ISSUE

Trends in General Account Tax Revenues, Total Expenditures, and Government Bond Issues

(Note 1) FY1975-2008: Settlement, FY2009:Second revised budget, FY2010: Initial budget
(Note 2) Ad-hoc deficit-financing bonds (approx. 1 trillion yen) were issued in FY1990 as a source of funds to support peace and reconstruction efforts in the Persian Gulf Region.
(Source) Japanese Ministry of Finance

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GOVERNMENT BOND ISSUES AND BOND DEPENDENCY RATIO

Government Bond Issues and Bond Dependency Ratio

(Note) FY1975-2008: Settlement, FY2009: Second revised budget, FY2010: Initial budget
(Source) Japanese Ministry of Finance

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TRENDS OF MAJOR EXPENDITURES IN THE GENERAL ACCOUNT

Trends of Major Expenditures in the General Account

(Note) FY1960-2000: Settlement, FY2010: Initial budget

(Source) Japanese Ministry of Finance

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GENERAL ACCOUNT REVENUES

General Account Revenues

(Note 1) The figures are based on each initial budget.
(Note 2) GDP for FY1980-2008: Actual; FY2009: Estimates; FY2010: Forecast.
(Note 3) Government Bonds Outstanding for FY1980-2008: Actual; FY2009: Second revised budget; FY2010: Initial budget.
(Source) Japanese Ministry of Finance

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GENERAL GOVERNMENT GROSS DEBT (INT'L COMPARISON)

General Government Gross Debt (International Comparison)

(Note 1) The figures are based on each initial budget.
(Note 2) FY2010 budget is not reflected in the above data.
(Source) OECD "Economic Outlook 86" (December, 2009)

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