TOKYO -- After years of heavy government spending fueled by easy money, the Bank of Japan's surprise policy shift is threatening to raise borrowing costs, forcing Japan to finally face its tattered fiscal health.
The government is still borrowing at a rapid clip. It plans to issue 35.62 trillion yen ($270 billion) in new government bonds in fiscal 2023 to help fund a record 114.38 trillion yen budget. Fresh bond offerings have topped 30 trillion yen every year since fiscal 2009, following the collapse of Lehman Brothers.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
