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作成日: 2022/12/24 13:11

更新日: 2025/12/09 10:01

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Japan&#039;s government has approved a draft budget for the next fiscal year. It is the largest ever at 114 trillion yen, or about 860 billion dollars.
                
The figure approved by the Cabinet on Friday is 6 percent higher than the initial budget for this year.
                
The major reason for the increase was the allocation for reinforcing defense capabilities at 50 billion dollars. That is up nearly 30 percent in yen terms from the draft budget a year earlier. Another 25 billion dollars are earmarked for strengthening defense in the future.
                
The package also includes social security costs of around 280 billion dollars, which accounts for one-third of the total.
                
Tax revenue is expected to hit 520 billion dollars.
                
The shortfall is likely to be about 270 billion dollars, which will be covered by issuing government bonds.
                
More than one-third of total revenue will be covered by the sovereign bonds, indicating a risky fiscal balance.
                
The draft budget will be submitted to the ordinary Diet session next year.

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