Japan Enacts Record 106-T.-Yen Budget for FY 2021
Tokyo, March 26 (Jiji Press)--The Diet, Japan's parliament, on Friday enacted the government's fiscal 2021 budget bill, which calls for record general-account spending of 106,609.7 billion yen amid the prolonged coronavirus pandemic.
The budget for the year from next month was approved at a plenary meeting of the House of Councillors, the upper chamber of the Diet, by a majority vote, with support mainly from the ruling Liberal Democratic Party-Komeito coalition.
The budget passed the House of Representatives, the lower chamber, in early March.
It shows 3.8 pct spending growth from the previous year's initial budget, hitting a record high for the ninth successive year.
The government allocated 5 trillion yen for reserve funds to prepare for a resurgence of the coronavirus.
[Copyright The Jiji Press, Ltd.]