The government plans record-high spending of ¥73.11 trillion ($602 billion) to fund its operations and programs in fiscal 2016, with the focus on assistance for child-rearing and other welfare measures, government sources said Monday.
The entire general-account budget for the year starting April 1 is expected to total a record ¥96.72 trillion, when debt-servicing costs are included.
The government of Prime Minister Shinzo Abe will earmark ¥31.97 trillion for social security expenses amid Japan's rapidly aging society, while doubling the budget for the tourism agency to revitalize regional economies, the sources said.