According to projections by Japan's Ministry of Finance, interest payments on Japanese government bonds in fiscal 2029 will rise by 8.6 trillion yen compared to fiscal 2026, reaching 21.6 trillion yen, driven by increasing interest rates.

The estimate, based on the fiscal 2026 budget blueprint, forecasts future fiscal conditions and clearly indicates that a significant surge in interest expenses will continue to intensify pressure on future fiscal management.

Total government expenditure for fiscal 2029 is projected to increase by 17.4 trillion yen from fiscal 2026, reaching 139.7 trillion yen.