The initial general-account budget for fiscal 2014, which starts April 1, is likely to total a record-high ¥96 trillion, according to government sources.
The Cabinet planned to approve the fiscal 2014 draft budget Tuesday, after making arrangements with the ruling Liberal Democratic Party, headed by Prime Minister Shinzo Abe, and its coalition partner, New Komeito.
For fiscal 2014, the government is expected to achieve its annual fiscal goals, including keeping new debt issuance below that of the previous year, as tax revenues are set to grow due in part to economic recovery and the sales tax hike.