Japan to Unveil Record $867 Billion Budget, Adding to Debts
Japan Ground Self-Defense Force during a live fire exercises in May 28.
Photographer: Tomohiro Oshumi/Getty Images
This article is for subscribers only.
Japan has compiled another record initial budget for the upcoming fiscal year, adding to the developed world’s heaviest debt pile.
The budget for the year beginning in April will be around 114.4 trillion yen ($867 billion), increasing from 107.6 trillion yen in the current year, according to documents obtained by Bloomberg Thursday. The biggest portion will be spent on social security costs, the plan showed.