Japan Draws Up Record 106.6-T.-Yen Budget for FY 2021
Tokyo, Dec. 21 (Jiji Press)--The Japanese government approved a fiscal 2021 budget bill at a cabinet meeting on Monday, with spending set to rise 3.8 pct from the previous year's initial budget to a record 106,609.7 billion yen.
In the year from next April, the size of initial-budget spending will hit a record high for the ninth consecutive year, due to costs for measures to tackle the coronavirus epidemic, as well as higher social security and defense expenditures.
The government will submit the fiscal 2021 budget bill during an ordinary session of the Diet, the country's parliament, early next year.
By regarding its fiscal 2021 initial budget and a planned third supplementary budget for fiscal 2020 as a combined "15-month budget," the government aims to take measures to shore up the economy in a seamless way.
In the fiscal 2021 budget bill, general-account spending tops 100 trillion yen for the third straight year, while tax revenues are put at 57,448 billion yen, down 9.5 pct.
[Copyright The Jiji Press, Ltd.]