Japan's debt-service costs expected to rise 25% by 2028 due to BOJ interest rate hikes.

Japan's debt-servicing costs could rise to $230 billion by April 2028, straining the government's annual budget significantly.

The government is bracing for annual debt-servicing costs to hit almost $230 billion over the next four years due to rising interest rates. According to the finance ministry's latest estimates, under the most optimistic growth scenario, these costs could reach ¥35.3 trillion ($229 billion) by April 2028, representing a 25% jump from this year's projections.

This situation means that servicing Japan’s massive debt is projected to consume close to a quarter of the annual budget starting in April. This projection highlights the significant financial strain Japan is likely to face with further rate hikes expected from the central bank.

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