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Japan government plans record $730 billion budget for next fiscal year, Jiji reports

  • Japan's government is preparing a record general account budget of over 115 trillion yen for the next fiscal year, as reported by Jiji News Agency.
  • The initial budget is expected to exceed 110 trillion yen for the third consecutive year, surpassing last year's budget, according to NHK.
  • A record budget request was made by the government in September as the Bank of Japan changes its long-term stimulus program.
  • The Finance Ministry stated that the assumed interest rate will rise to 2.1% for the upcoming year, increasing debt-servicing costs.
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