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ECONOMY

Budget requests to top ¥101 tril.

  • August 27, 2016
  • , The Japan News , 8:08 pm
  • English Press

TOKYO (Jiji Press) — Overall general-account budget requests by government ministries and agencies for fiscal 2017 are estimated to top ¥101 trillion, it was learned Friday.

The total is set to surpass ¥100 trillion for the third straight year, with continued growth in social security expenditures.

But the fiscal 2017 sum is likely to be below the record ¥102,409.9 billion of requests for fiscal 2016, following a decline in debt-servicing costs.

The Finance Ministry will accept budget requests through Wednesday and then start examining them.

The government aims to turn around the country’s primary budget balance to a surplus in fiscal 2020. But it is under pressure to increase expenditures amid economic weakness.

Amid sluggish tax revenue growth, effective budgeting is a challenge for the government.

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