TOKYO (Bloomberg): Japan’s cabinet approved a record initial budget for the year starting in April that offers up some measures aimed at promoting Prime Minister Fumio Kishida’s (pic) new vision of capitalism, while still adding to the developed world’s largest debt burden.
For the year ending March 2023, Japan plans 107.6 trillion yen (US$940 billion) in overall spending, a 0.9% increase from the current year’s initial budget, the finance ministry confirmed Friday.
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