(Update 2) 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.
Speaking at a press conference after the budget's enactment, Prime Minister Fumio Kishida said, "We will implement important measures at full speed."
"We have a historic opportunity" to get the country fully out of deflation, Kishida said, vowing to keep wage increases exceeding price hikes in place.
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.
(2024/03/28-22:55)
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