Tokyo Budget Sets Record for 10th Year in a Row: Japan Times

Japan’s initial budget for fiscal 2022 starting in April is expected to surpass 107 trillion yen ($950 billion), marking a record high for the 10th straight year, mainly due to growing social security and national defence costs, the Japan Times reported.

As it did when compiling the initial budget for the current fiscal year 2021 that totalled ¥106.61 trillion, the government plans to set aside ¥5 trillion for reserve funds to continue to fight the Covid-19 pandemic, official sources said.

Read the full report: The Japan Times

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Tags: Budget

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.