Japan MOF to request record $249bn for 2015/16 debt servicing

TOKYO: Japan's finance ministry will request a record 25.8238 trillion yen ($248.9 billion) for debt servicing costs in an annual budget for the next fiscal year from April 2015, a document obtained by the Reuters showed, reflecting snowballing public debt.

Ministries and government offices are due to submit their budget requests for the next fiscal year by the end of August, which will be scrutinised by the finance ministry by late December when the government compiles a draft annual budget.