Japan Approves Record $785 Billion Budget, Aims to Control Debt

Japan's cabinet, led by Prime Minister Sanae Takaichi, has approved a record 122.3 trillion yen ($785 billion) budget for the next fiscal year. The government aims to balance proactive fiscal policy with efforts to keep its substantial debt in check, limiting new bond issuance and leveraging record tax revenues.

• Japan's cabinet approves record 122.3 trillion yen ($785 billion) budget.
• Budget for fiscal year starting April 1, 2026.
• Government pledges to keep debt in check despite increased spending.
• New bond issuance limited; debt dependence ratio lowest since 1998.
• Record tax revenues to help fund social welfare and defense outlays.
• Includes record defense spending exceeding 9 trillion yen ($58 billion).

Read the full story on Quick Digest.