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Japan Budget Approved

Japan Budget ApprovedJapan Budget Approved

Japan’s Cabinet approved a record 96.3 trillion yen ($814b) government budget for the coming fiscal year Wednesday after a tax hike to accommodate rising outlays for social security and defense, AP reported. Rising revenues following the sales tax increase last April enabled Prime Minister Shinzo Abe to raise spending without increasing the proportion financed by new government bonds.

 

Financialtribune.com