Japan Govt Adopts Record 107.6-T.-Yen Budget Bill for FY 2022

Politics

Tokyo, Dec. 24 (Jiji Press)--The Japanese government on Friday adopted a budget bill for fiscal 2022 calling for general-account spending of 107,596.4 billion yen, a record high for the 10th straight year.

The government aims to achieve an early normalization of social and economic activities by prioritizing budget allocation for measures to fight the prolonged coronavirus pandemic and also for concrete steps to realize Prime Minister Fumio Kishida's signature policy of creating a virtuous cycle of economic growth and wealth redistribution.

The total general-account spending amount represents a rise of 0.9 pct from the initial budget for fiscal 2021, which ends next March, topping 100 trillion yen for the fourth consecutive year.

The budget bill will be submitted to an ordinary session of the Diet, Japan's parliament, to be convened early next year.

The government regards the fiscal 2022 budget as a 16-month budget integrated with a fiscal 2021 supplementary budget to seamlessly finance coronavirus and other measures, with combined expenditures totaling 143.6 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press