(Update) Japan Enacts 112-T.-Yen State Budget
Tokyo, March 28 (Jiji Press)--Japan's parliament on Thursday enacted the fiscal 2024 state budget, which calls for a general-account spending of 112,571.7 billion yen, the second-largest on record.
The House of Councillors approved the budget for the year that starts on Monday by a majority vote with support mainly from the ruling bloc following the passage by the House of Representatives earlier this month.
The budget includes 1 trillion yen in reserve funds, part of which will be spent for reconstruction from the magnitude-7.6 earthquake that struck central Japan's Noto Peninsula on New Year's Day.
The government will issue 35,449 billion yen in new bonds, with the ratio of bonds being as high as 31.5 pct of its total revenues.
The passage of the budget was delayed for hours due to bickering between the ruling and opposition camps over a political funds scandal involving Prime Minister Fumio Kishida's Liberal Democratic Party.
(2024/03/28-19:30)
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