Budget Requests from Japan Govt Agencies to Hit Record High
Newsfrom JapanPolitics Lifestyle
Tokyo, Aug. 24 (Jiji Press)--General-account budget requests from Japanese government agencies for fiscal 2019 are expected to hit a record high due to larger social welfare expenses and higher debt-serving costs, informed sources said Friday.
The current record of 102.4 trillion yen was posted for fiscal 2016, which ended in March 2017.
The fiscal 2019 budget could top 100 trillion yen for the first time ever as an initial budget because it includes special outlays to offset the impact of the planned consumption tax increase in October 2019.
The total amount of budget requests is expected to exceed 100 trillion yen for the fifth consecutive year. For fiscal 2018, requests totaled 101 trillion yen.
Government agencies are given until the end of this month to file budget requests. A fiscal 2019 budget plan is due out late this year after screening of requests by the Finance Ministry.
[Copyright The Jiji Press, Ltd.]