TOKYO (Reuters) -Japanese government agencies will request a combined 122.45 trillion yen ($831.13 billion) in spending under the next fiscal year’s budget, setting a record for the third consecutive year, a draft of the requests obtained by Reuters showed on Monday.
The Ministry of Finance (MOF) will scrutinise the requests to finalise the government’s fiscal 2026 draft budget by the end of this year, which will then be submitted to parliament for deliberation.
The Nikkei newspaper reported on Friday that spending requests under the fiscal 2026 budget will exceed 122 trillion yen due largely to rising social welfare and debt-servicing costs.
($1 = 147.3300 yen)
(Reporting by Takaya Yamaguchi; Writing by Leika Kihara; Editing by Christopher Cushing)
Comments