Japan medical costs hit record high in fiscal year 2023

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1. That is the third year in a roll that medical costs are breaking records, and the trend is expected to continue as Japan’s population gets older.

   Japan’s public debt is US$9.2 TRILLION and correspond to 263% of their GDP, making it the highest debt load in the entire developed world. 1/3 of the entire Japanese national budget goes to pay for social security services for the elderly. That number is expected to jump to 50% of the national budget within the next 20 years. The social security expenses + servicing of the national debt consumes a whooping 60% of the entire government budget.

   To say that the long term prospects of Japan are dire should not be controversial.