Japan approves US$800bil budget

TOKYO: Japanese Prime Minister Shinzo Abe’s cabinet has approved a record fiscal 2016 budget that counts on higher growth and tax revenue to achieve his aim of reviving the economy and reining in huge public debt.

Total spending for the fiscal year starting April 1 will be 96.72 trillion yen (US$799.93bil), up a tad from this year’s initial plan to spend 96.3 trillion yen.

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Business , Japan , economy , budget , abe ,


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