Japan FY 2023 budget requests hit 2nd highest 110.05 tril. yen

Politics Economy

Budgetary requests by Japanese government offices totaled 110.05 trillion yen ($784 billion) for the fiscal year from next April, the second-largest on record, the Finance Ministry said Monday amid record defense spending and swelling social security costs. The general-account initial budget for fiscal 2023 to be compiled based on the requests will likely exceed the 107.60 trillion yen for the current fiscal year. It will also cover spending on measures to help ease the economic impact of accelerating inflation. The total amount of requests may expand after some modifications. The ministry pla...

Kyodo News

Kyodo News