Gov't eyes record 96.7 tril. yen budget for FY 2016

posted on December 20, 2015

The government is compiling a record-high budget of around 96.7 trillion yen ($798 billion) for next fiscal year amid swelling welfare costs due to Japan's graying population, sources close to the matter said Saturday.

The draft initial budget for the year starting next April will top the previous record of 96.34 trillion yen for the current fiscal 2015.

The Cabinet of Prime Minister Shinzo Abe is expected to approve the budget plan on Thursday before submitting it to the Diet next month.

source by kyodonews
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