Reported about 15 hours ago
Japan is set to adopt a record budget of $735 billion for the upcoming fiscal year, primarily driven by rising social security and debt-servicing costs. In an effort to improve public finances, the government plans a reduction in new bond issuance to 28.6 trillion yen. This shift comes as the Bank of Japan moves away from its long-standing stimulus strategy, placing additional pressure on the government, which now anticipates a slight deficit in its primary budget balance. The draft budget is expected to be approved by Prime Minister Shigeru Ishiba's cabinet, with tax revenues projected to see significant growth.
Source: YAHOO