Japan Plans Record Spending
Japan Plans Record Spending

Japan Plans Record Spending

Japan Plans Record Spending

Japan’s government plans an initial budget of a record 97.7 trillion yen ($872 billion) for the 2018/19 fiscal year, while keeping new debt issuance below this year’s level thanks to hefty tax revenue as the economy picks up, government sources told Reuters. The planned budget spending for the year beginning April 1 marks an increase from this year’s 97.5 trillion yen, the sources said on condition of anonymity as the plan has not yet been finalized. Prime Minister Shinzo Abe’s cabinet is expected to approve the budget draft on Dec. 22, along with an extra budget for the current year. The budget underscores the difficulty Japan has in curbing spending—despite the heaviest debt burden in the industrial world—as an ageing population pushes up welfare costs, and regional tensions related to North Korea mean rising military spending. It all means a test of Abe’s will to restore fiscal health and revive the world’s third-largest economy at the same time, while he is seen favoring growth over austerity.

Short URL : https://goo.gl/44yMgw
  1. https://goo.gl/jDLMw6
  • https://goo.gl/UL1jzL
  • https://goo.gl/GqUtLg
  • https://goo.gl/igGs9E
  • https://goo.gl/uN9bsk

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints