Reuters reports key details from a draft that it obtained on the Japanese annual budget plan this Wednesday.
The draft revealed that the Japanese government is set to compile an annual budget plan featuring a record amount of spending for the fiscal year (FY) 2020/21, per Reuters.
Further Details:
“The general-account budget for fiscal 2020 is set to hit 102.66 trillion yen ($945 billion), above this year’s 101.5 trillion yen.
The government is set to estimate 63.51 trillion yen in tax revenue for the next fiscal year.
It will trim new bond issuance to 32.56 trillion yen, versus this year’s 32.7 trillion yen and marking declines for the 10th straight year.”
- Japan Govt Officials: Japan to trim annual govt bond issuance next fiscal year – Reuters
Note that the draft budget will be approved by the Japanese cabinet on Friday.
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