TOKYO, Dec 26 (NNN-NHK) – Japan’s Cabinet, today, approved a draft budget worth about 122.3 trillion yen (about 785 billion U.S. dollars), for the next fiscal year starting April, local media reported.<\/p>\n\n\n\n
The huge spending, the first full-scale budget under Prime Minister Sanae Takaichi, marks a record high for the second straight year, following the fiscal 2025 initial budget at about 115.2 trillion yen.<\/p>\n\n\n\n
Takaichi’s aggressive spending policy has pressured the yen against major currencies in the foreign exchange market, which is a negative sign for a country that relies heavily on imported energy sources, Kyodo News reported.<\/p>\n\n\n\n
Under the draft budget for fiscal 2026, new government bond issuance is set at about 29.6 trillion yen, to cover a revenue shortfall, underscoring Japan’s heavy dependence on debt and fueling concerns, about a further strain on the state’s fiscal health, which is the worst among major economies, the report said.<\/p>\n\n\n\n
The government expects to collect a record 83.7 trillion yen in tax revenue, marking a record high for the seventh consecutive year.<\/p>\n\n\n\n
A record 9.04 trillion yen has been earmarked for defence-related purposes, while 39.06 trillion yen has been set aside for social welfare, which typically accounts for the largest share of Japan’s national budget.<\/p>\n\n\n\n
The government plans to submit the budget plan to the Diet, the country’s parliament, in January, aiming to pass it by the end of fiscal 2025.– NNN-NHK <\/p>\n","protected":false},"excerpt":{"rendered":"
TOKYO, Dec 26 (NNN-NHK) – Japan’s Cabinet, today, approved a draft budget worth about 122.3 trillion yen (about 785 billion U.S. dollars), for the next fiscal year starting April, local media reported. The huge spending, the first full-scale budget under Prime Minister Sanae Takaichi, marks a record high for the second straight year, following the […]<\/p>\n","protected":false},"author":10,"featured_media":320685,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,300,194],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/320677"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=320677"}],"version-history":[{"count":2,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/320677\/revisions"}],"predecessor-version":[{"id":320683,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/320677\/revisions\/320683"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/320685"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=320677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=320677"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=320677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}