The upper house of the Japanese parliament adopted a record-breaking state budget of 102.7 trillion yen ($946.77 billion) for the next fiscal year starting on April 1, media reported on Friday
TOKYO (Pakistan Point News / Sputnik - 27th March, 2020) The upper house of the Japanese parliament adopted a record-breaking state budget of 102.7 trillion Yen ($946.77 billion) for the next fiscal year starting on April 1, media reported on Friday.
The budget has surpassed the 100 trillion yen mark for the second consecutive year.
According to the Kyodo news agency, a record 35.86 trillion yen will be allocated for social security, with a large part of this sum being set aside for the government's educational benefits program.
Defense spending will be a record 5.31 trillion yen, part of which will be used to cover the costs of deploying two Aegis Ashore ground-based missile defense systems, and purchase F-35B short take-off aircraft from the United States.
The lower house approved the budget in late February.
