The Japanese Finance Ministry has announced that the total budget request for the next fiscal year, submitted by various government ministries, amounts to 122.4 trillion yen (approximately $1.1 trillion). This figure represents the largest budget proposal in Japan’s history, surpassing previous records for the third consecutive year.
The increase in the budget is largely attributed to rising inflation, which has led to higher costs across various sectors. As a result, requests for funding from different ministries have been widely accepted, contributing to the overall increase in the budget.
Japan’s fiscal year runs from April 1 to March 31, and the general account budget is the primary financial plan for the government, covering essential services and public expenditures.
Source: www3.nhk.or.jp