Japan’s Cabinet approved today a record JPY 106.61T draft budget for fiscal 2021. New bond issuances would soar JPY 11.04T from the current JPY 43.60T finance the budget. That’s the first year-on-year rise on an initial basis since fiscal 2010.
“Amid the coronavirus spread, the hardest part was that we had to strike a balance among preventing infections from spreading, revitalizing the economy and restoring fiscal health,” Finance Minister Taro Aso said. He added that it’s “regrettable” that bond dependency ratio would rise again.
