Prime Minister Sanae Takaichi¡¯s Cabinet approved a record ?122.3 trillion ($783 billion) budget on Friday that includes the issuing of ?29.6 trillion worth of government bonds to cover the revenue shortfall.
The proposal, which is for the fiscal year starting April 1, 2026, is scheduled to be submitted to parliament for approval at the next regular Diet session, which begins Jan. 23.
The total being requested is ?7.1 trillion more than the current fiscal year¡¯s initial budget, which was prepared by Takaichi¡¯s predecessor.
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