Japan plans record budget with high defense spending

Quick Summary:

JAPANESE Prime Minister Shigeru Ishiba’s cabinet is expected to approve a record initial budget Friday for the next fiscal year that will ramp up spending on defense and support for local economies.

The cutting back of fresh bond issuance comes at a key time for the government given that the Bank of Japan is likely to continue raising interest rates.

Among the biggest increases are a jump of more than 10 percent in defense spending to ¥8.5 trillion and an increase of around 7 percent in grants to local governments.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: PhilippinesJapan

Topics: Trillion Defense Percent Year Initial Debt Spending Issuance Government Budget Fiscal

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-26 @ 12:09:44 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 568 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24672509

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 3 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #37

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