The outstanding balance of government bonds by March 31, 2017, the end of fiscal 2016, will amount to 929.9 trillion yen if deflation continues and economic growth remains sluggish through the end of fiscal 2006, according to a Finance Ministry estimate released Thursday.
That compares with a projected 450.5 trillion yen at the end of fiscal 2003, according to the ministry's report, which was submitted to a panel of the ruling Liberal Democratic Party.
The ministry based the calculation on the assumption that zero growth in nominal terms will continue.