The government's liabilities exceeded its assets by as much as 806.43 trillion yen in fiscal 2000, 28.49 trillion yen more than the year before, according to the national balance sheet released Friday by the Finance Ministry.
The biggest factor contributing to the rise in liabilities is a sharp increase in the issuance of government bonds, ministry officials said. According to the balance sheet, privately held bonds in the liabilities section soared to 229.51 trillion yen, up 6.3 percent from the previous year.
The national balance sheet, drafted for only the second time after last year's attempt, records the assets and liabilities held by the central government. Those held by local governments and public corporations are not included.