The largest item of expenditure will be the cost of the Japanese government for social needs, in particular, on addressing the challenges of rapid population ageing and low birth rates.
TOKYO, 24 Dec. Catherine Plyasunova. The Japanese Cabinet approved on Thursday a draft budget for the 2016-2017 fiscal year (starts 1 April 2016) in the amount of record 96,72 trillion yen (about 806 billion dollars).
Within budget official Tokyo is going for the first time in 17 years to raise the amount of aid to foreign countries by 1.8% compared with the current figure to 551,9 billion yen (about 4.6 billion dollars). According to the Agency Kyodo, the increase in aid will come largely at the expense of technical cooperation programmes between Japan and recipient countries and bilateral programmes on the provision of subsidies.
Military spending, according to the draft budget of Japan for the 2016-2017 fiscal year, for the first time will exceed 5 trillion yen and will amount to 5.05 trillion yen (about 41.7 per billion).
The largest item of expenditure will be the cost of the Japanese government for social needs, in particular, on addressing the challenges of rapid population ageing and low birth rates. For these purposes will be allocated about 32 trillion yen (about 264 billion U.S. dollars).
After approval by the Cabinet of Ministers the draft budget will be submitted for consideration of the Parliament session which begins January 4, 2016. The budget for the current fiscal year amounted to 96.3 trillion yen (802,5 billion).