TOKYO, January 20. /Corr. Kirill Agafonov/. The Japanese Parliament adopted Wednesday a supplementary budget for the 2015 fiscal year (ending in Japan in March 2016) for a total of 3.32 trillion yen (about $28.2 billion at current exchange rates). As noted by Kyodo News, the money will be used mainly for providing social services, as well as to support agriculture.
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The government of Shinzo Abe has developed a draft supplementary budget to implement the key tasks facing the Cabinet, support the birth rate and the preservation of employment in conditions of rapid aging of the population. In addition, money will be directed at improving the competitiveness of Japanese agriculture, which can deliver a serious blow to the entry into force of the agreement establishing the TRANS-Pacific partnership (TPP).
As reported by January 7 of the new Zealand media, the agreement on the establishment of TTP will be formally signed on 4 February, after which participating countries (Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, USA, Singapore, Chile and Japan) will have to ratify it. This trade Pact involves the complete abolition of customs duties on goods and services that will lead to penetration into the Japanese market huge volumes of cheap meat and dairy products from Australia and the USA.
In recent decades, the country sharply faced with another problem – the aging of the population. According to official statistics, in October 2014, 26% of Japanese residents were aged over 65, by 2060 this figure will increase to 40%. According to the authorities, by 2030 the number of able-bodied population will decline by 12.4%. In these circumstances grow and government spending on medical care for the elderly.
The budget for the current fiscal year was adopted on 9 April 2015. Its revenues is 96,34 trillion yen (about 796 billion at the exchange rate at the time of adoption), the deficit – about 13.4 trillion yen ($112 billion).