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Japan Vows to Cap Budget at 71 Trillion Yen

Wall Street Journal Original article ›

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Japan's budgetary discipline will take the form of keeping annual expenditures (excluding debt servicing) constant at 71 trillion yen ($819 billion) for the coming three years. This is around three fourths of the national budget. To do this the Democratic party is asking cabinet ministers to set priorities, reduce waste, and send money into the party's emphasized growth strategy areas.

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Japan's public debt is reaching twice the size of its $5 trillion economy.

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Spending is to be kept at 71 trillion yen for the next 3 years and the budget balanced in 10 years. This is critical to the Democratic Party government's credibility on spending, deficit and debt issues facing Japan.

Grouped Articles

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Japan’s Prime Minister Warns That Debt Could Bring a Crisis Like That of Greece

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In Budget Plan, Japan Proposes More Spending and Aims to Borrow Less

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Japan Vows to Cap Budget at 71 Trillion Yen

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Shaking up Japan: Bold, or plain reckless?

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