Japan to Set FY 2024 General-Account Spending at Some 112 T. Yen
![](https://japannews.yomiuri.co.jp/wp-content/uploads/2023/06/kantei.jpg)
Prime Minister’s Office
10:45 JST, December 21, 2023
Tokyo (Jiji Press)—The Japanese government is in the final stages of coordination to set the amount of general-account spending under its fiscal 2024 budget at around ¥112,070 billion, informed sources said Wednesday.
The planned amount is down from the record high of ¥114,381.2 billion, set in fiscal 2023, marking the first decrease in 12 years.
Still, the annual amount is seen topping ¥110 trillion for the second straight year, as debt-serving costs are expected to hit a new record high and social security and defense outlays are also set to rise.
For calculating the cost of paying interest on government debt, the government will raise its assumed interest rate for the first time in 17 years, reflecting an upward trend in long-term government bond yields following the Bank of Japan’s policy adjustments.
"Politics" POPULAR ARTICLE
-
Japan Ministry Concerned Over Same-Sex Couple Receiving City-Issued Resident Certificates Referring to ‘Common-Law Husband’
-
Japan Govt Predicts China’s Forces Could Land on Taiwan Within 1 Week of Enforcing Blockade; Drills Conducted in 2023 Analyzed
-
Tokyo Governor Yuriko Koike Wins Third Straight Term; Voters Respond to Achievements in Child Care, Education
-
Incumbent Tokyo Governor Leads as Election Day Approaches; 20% of Survey Respondents Still Undecided
-
Japan, U.S. to Compile Joint Document on Extended Deterrence; Foreign, Defense Ministers to Hold Talks
JN ACCESS RANKING