As Japan shifted from budget surpluses to budget deficits in response to the economic slowdown of the 1990s,this resulted in

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As Japan shifted from budget surpluses to budget deficits, it led to a substantial increase in government debt as a share of the economy. This was due to increased government spending and a decrease in tax revenue, leading to a larger budget deficit and higher borrowing to finance the deficit. The increase in government debt can have negative consequences such as crowding out private investment, higher interest rates, and reduced economic growth in the long term.

As Japan Shifted from Budget Surpluses to Budget Deficits in Response