Daily Management Review

Japan’s 2016 Budget Makes A Record Amount Approved


The coming year’s budget for Japan, earmarks extra spending quota for defence and social security.

The Japanese Cabinet Budget for 2016 has made a new record of “$800bn”. There is an extra spending quota under “defence and social security” categories, whereby forming the “key features of the 2016 fiscal programme”.
The Japanese Prime Minister, Shinzo Abe, wants to create a “bigger international profile” of Japan. The increment in the defence spending will “rise 1.5% to 5.05 trln yen”, whereby marking “the fourth successive annual increase”.
On the other hand, the rose in the spending allotment in social security will hit a record 31.97trln yen”, whereby increasing by “1.4%”. the said sector will focus on developing “child care and nursing services for the elderly”.
Moreover, Digital Outlook informs:
“International aid spending will rise by 1.8% to 551.9bn yen. In a bid to lure more tourists to the country, the Japan Tourist Bureau's budget has been doubled to 20bn yen.
“Tax revenue is expected to climb to a 25-year high of 57.60trln yen, based on a forecast GDP rise of 1.7%.”
On the 4th of January 2016, the draft version of the budget, will be “presented to the Japanese parliament, or Diet”, whereby the aim will remain to implement the same by the end of the financial year in the month of March 2016.