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(Update 2) Japan Enacts 112-T.-Yen State Budget

(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.

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AFP-JIJI PRESS NEWS JOURNAL


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