Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare, as the population ages, and defence to tackle regional threats.The 8.7 trillion yen approved Friday will help pay for measures to help attract recruits to Japan's Self-Defense Forces,

Japan's government is in final talks to compile a record over 115 trillion yen ($732 billion) general account budget for the fiscal year from April, Jiji news agency reported on Wednesday. The initial budget will likely exceed 110 trillion yen for the third straight year,

Japan’s cabinet approved a record ¥115.5 trillion ($732 billion) budget for the fiscal year starting April 2025, setting up the minority government of Prime Minister Shigeru Ishiba for a key test of its longevity in getting the proposal approved by parliament.

Japanese Prime Minister Shigeru Ishiba's cabinet on Friday approved a record $730 billion budget for the next fiscal year, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue.