Budgetary requests by Japanese government offices totaled 110.05 trillion yen ($784 billion) for the fiscal year from next April, the second-largest on record, the Finance Ministry says amid record defense spending and swelling social security costs.
Around 42 percent of major companies in Japan expect the country s economy to slow down over the next 12 months, up from just 5 percent one year ago, as they struggle to cope with surging commodity costs and the yen s weakness, a Kyodo News survey shows.
Japan s House of Councillors enacts into law a bill for enhancing the country s economic security amid increasing geopolitical risks associated with Russia and China.
Japan s industrial output in fiscal 2021 expanded at a record 5.8 percent from the previous year after two straight years of setbacks due to the coronavirus pandemic, government data showed Thursday.
Japan s lower house passes a bill for promoting economic security, putting it on track to be enacted in the current regular parliamentary session as the country faces growing geopolitical risks associated with Russia and China.