Japan to OK 112 tril. yen FY 2024 budget, shift from COVID-era aid

Politics Economy

Japan is set to approve a roughly 112 trillion yen ($789 billion) draft budget for fiscal 2024 on Friday, marking the first decline in spending in 12 years as COVID-related funding was curbed, but faces challenges maintaining fiscal discipline amid record outlays on defense and social security. The figure compares with a record 114.38 trillion yen initial general-account budget for the current business year to next March. About a quarter of the total, or around 27 trillion yen, will be used to service debt as Japan's fiscal health remains the worst among developed nations. The budget size is s...

Kyodo News

Kyodo News