Japan Govt Submits FY 2026 Draft Budget to Parliament

Tokyo, Feb. 20 (Jiji Press)--The Japanese government submitted to the Diet, the country's parliament, on Friday a draft fiscal 2026 budget, which was compiled under Prime Minister Sanae Takaichi's "responsible and proactive" fiscal policy.

General-account spending under the draft budget for the year starting in April totals 122,309.2 billion yen, larger than the 115,197.8 billion yen under the fiscal 2025 initial budget and hitting a record high for the second consecutive year.

Meanwhile, the primary budget balance, an indicator of a nation's fiscal health, is expected to return to a surplus for the first time in 28 years, supported by projected tax revenue growth.

The submission of the draft budget came about a month later than usual, due to the Jan. 23 dissolution of the House of Representatives and the Feb. 8 subsequent general election for the lower chamber of the Diet. Takaichi, however, aims to have it passed by the March 31 end of fiscal 2025.

At a meeting Friday, Hiroshi Kajiyama, Diet affairs chief of the ruling Liberal Democratic Party, informed his counterparts from opposition parties of the ruling side's intention to enact the budget before the start of fiscal 2026 and sought their cooperation. He did not give a specific deliberation schedule for the Lower House Budget Committee.

[Copyright The Jiji Press, Ltd.]