URGENT: Japan's Cabinet OKs largest-ever 107.6 tril. yen budget for FY 2022

Politics Economy

Japan's Cabinet approved Friday a 107.60 trillion yen ($940 billion) draft budget for fiscal 2022, the largest ever, to finance measures against the coronavirus pandemic, swelling social security costs and record defense spending. Compared to fiscal 2021's initial 106.61 trillion yen, the budget for the new fiscal year starting in April will be a record high for the 10th year in a row.

Kyodo News

Kyodo News