Ministry of Finance (Japan)

The Japanese Ministry of Finance (in Japanese财务 省, zaimu - shō, Eng. Ministry of Finance, MOF) is a ministry of the central government. It is responsible for budgeting, taxation and customs duties, the management of public debt and bonds and the coinage today.

Since December 2012 Taro Aso 's finance minister.

History

Since its establishment after the Meiji Restoration to the restructuring of the central government in 2001 was called the Treasury Okura - shō (大 蔵 省). This name goes back to a position in the 8th century from the ritsuryō system.

In the reconstruction of Japan and in the economic boom of the post-war period, the Treasury played a central role alongside the MITI, which coordinated the development of the industry. At that time the Okura - shō the supervision had (since 1998 at the Authority for the Financial Engineering) (from 1998 bundled with the Bank of Japan) through the banking system and, among other things, the Tanshi - gaisha significant impact on the monetary policy and the huge currency reserves.

Until the formation of the independent Nippon Sembai Kosha (日本 専 売 公社, " public Japanese monopoly company .";. Engl Japan Tobacco and Salt Public Corp. ) 1949, forerunner of Nihon Tabako Sangyo (English Japan Tobacco ), the Ministry was also responsible for the state tobacco, salt and camphor monopoly responsible.

Budget and debt

The budget for fiscal year 2006, the plan of the Treasury, the miteinschließt debt service, about 20.5 trillion yen (about 123 billion euros ) was, and was the largest section.

The growth of the enormous national debt of Japan - in fiscal year 2008, estimated 181% of GDP, of which 148 % in bonds - continues: in 2008 was intended to cover 30.5 % (25 trillion yen ) in government spending by new bonds. While tax revenues have not yet reached the level of the bubble economy ( Fj. 1990: 60.1 trillion yen; Fj 2008. 53.6 trillion yen ), the expenditures have continued to rise ( Fj. 1990: 69.3 trillion yen; Fj 2008. 83.1 trillion yen). The total amount of outstanding bonds is about 550 trillion yen ( 3.3 trillion euros ). At the same time the interest burden, which was still rather decreased during the zero interest rate policy in the 90s increases since 2005 again. In the fiscal years 2009, 2010 and 2011, the Parliament decided during the cabinets Asō, Hatoyama and Kan - that governments of both major parties - Households with each new record spending.

The Japanese government bonds after S & P rating of AA- ( AA depreciation in January 2011) and according to Moody's rating of Aa3 ( devaluation of Aa2 in August 2011).