Japan FY 2025 Draft Budget Seen Exceeding 113 T. Yen
Tokyo, Dec. 19 (Jiji Press)--Japan's fiscal 2025 draft budget, due out soon, is seen including general-account spending of over 113 trillion yen, marking the third consecutive year for a regular state budget to top 110 trillion yen.
Debt-servicing expenses, or spending for government bond repayments and interest payments, are forecast to hit a record high. Expenditures on defense and social security are also expected to climb.
Cabinet ministers will discuss with the Finance Ministry remaining issues on the budget from the first half of next week so that the government can adopt it before year-end.
The government aims to bring the budget size down to a level before it was expanded to deal with the COVID-19 pandemic.
But efforts for fiscal consolidation are stagnating although Japan's fiscal health is worst among the world's major economies.
(2024/12/19-19:06)
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