Japan enacts revised 112.57 tril. yen budget for FY 2024

Politics

Japan’s parliament on Thursday enacted a 112.57 trillion yen ($744 billion) budget for fiscal 2024 starting in April, the second-largest, to better respond to security threats and demographic challenges, ease the pain of inflation and rebuild earthquake-hit areas.

The budget includes a record 7.95 trillion yen in defense spending as the nation seeks to bolster defense capabilities in the face of threats from China and North Korea. The government revised its initial plan and double the amount of emergency funds to 1 trillion yen after a deadly quake hit central Japan on New Year’s Day.

Although...

Kyodo News

Kyodo News