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Japan's 2027 budget requests reach record 143 trillion yen
The Japanese government has submitted budget requests for the 2027 fiscal year totaling 143.07 trillion yen, marking a record high for the fourth consecutive year, representing a 16.8% increase over the 2026 budget. This comes amid rising debt service costs, which reached 36.64 trillion yen, with the expected interest rate increasing to 3.8%. The requests also include funding aimed at boosting economic expansion, most notably 36.58 trillion yen for the Ministry of Health and Pensions, and 8.84 trillion yen for the Ministry of Defense to develop military technologies such as drones. The increase in budget requests is driven by the government's shift toward transferring some expenses into the core budget, in a context of ongoing market cautiousness regarding Japan’s escalating financial commitments.
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