Japan Government net lending/borrowing in Japan

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -2.0% 2027: -2.4% 2028: -2.9% 2029: -3.3% 2030: -3.7% 2031: -4.0%
-6.7 (1999) ANUAL · % of GDP · Annual · CSV
Period% of GDP
Jan 1999 -6.7
Jan 1998 -9.9
Jan 1997 -3.4
Jan 1996 -4.8
Jan 1995 -4.2
Jan 1994 -3.7
Jan 1993 -2.3
Jan 1992 0.6
Jan 1991 1.6
Jan 1990 1.9

About this indicator

Source
International Monetary Fund
Frequency
Annual
Release
Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.
What it is
Japan's government deficit is the shortfall in the general government accounts when spending exceeds revenue over a period; when revenue exceeds spending it is a surplus. It is usually expressed as a share of GDP.
How it's calculated
It is calculated as the gap between the general government's non-financial revenue and spending (central, local and social security funds) under national accounting standards (net lending or borrowing). The balance is expressed relative to GDP.
Market implications
The deficit drives the Japanese government's borrowing needs and the path of an already very high public debt, with implications for fiscal policy and for the Bank of Japan. It is a gauge watched by markets and rating agencies.
Limitations
It is a low-frequency figure subject to revisions. It is worth distinguishing the overall balance from the primary balance (which excludes debt interest) and from the cyclical component tied to the economic cycle.