Japan's budget to hit record, but with reduced new bond issuance, draft shows

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Japan's budget to hit record, but with reduced new bond issuance, draft shows

^{Published on 2024-12-25 07:40:54 - Reuters}

Japan's government is set to compile a record $735 billion budget for the fiscal year from April due to larger social security and debt-servicing costs, adding to the industrial world's heaviest debt,

Japan's government is planning a record budget of 112 trillion yen ($730 billion) for the next fiscal year starting in April, according to a report by Jiji news agency on December 25, 2024. This budget aims to address the country's aging population, low birth rates, and to bolster defense spending. Key features include increased allocations for social security, child care support, and a significant hike in defense expenditure to counter regional security threats. The budget also reflects efforts to manage the national debt, which is over twice the size of its economy, through fiscal reforms and potential tax increases.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/japan/japan-government-plans-record-730-bln-budget-next-fiscal-year-jiji-reports-2024-12-25/ ]

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