TOKYO, Sept 5 (NNN-NHK) – Budget requests from Japanese government ministries and agencies, for fiscal 2025 totalled 117.61 trillion yen (about 812 billion U.S. dollars), a record high for the second consecutive year, the Finance Ministry said, yesterday.
Next fiscal year’s budget surpasses the requested 114.39 trillion yen for fiscal 2024, which was eventually reduced to 112.57 trillion yen in the initial budget, as the country’s aging population elevates social security costs, and its military buildup efforts push up defence spending.
In the latest budget demand, the Defence Ministry’s request has exceeded eight trillion yen, for the first time, after its fiscal 2024 budget came in slightly below that mark.
Meanwhile, the Health, Labour and Welfare Ministry, asked for a record 34 trillion yen, to increase spending on medical nursing services and dementia measures, due to the rapidly aging population and declining birthrate.
Social security spending, which makes up around a third of Japan’s annual budget, continues to rise.
The Finance Ministry will examine these proposals, to draw up a draft budget, due out by the end of the year.– NNN-NHK
