Methane hydrate gets budgetary OK

Dec 25, 2013

Methane hydrate gets budgetary OK

The Abe administration plans to boost spending on the development of undersea methane hydrate, a potential next-generation energy source, as well as on renewable energy projects in fiscal 2014. In its draft budget adopted Tuesday, the administration set aside ¥12.7 billion for methane hydrate ...

Cabinet OKs record budget for 2014

Dec 24, 2013

Cabinet OKs record budget for 2014

The Cabinet approves a record ¥95.88 trillion general account budget for fiscal 2014 as the Abe administration seeks simultaneously to conquer decades of deflation and restore the nation’s precarious fiscal health.

Defense spending hike covers pay: ministry

Dec 24, 2013

Defense spending hike covers pay: ministry

by Reiji Yoshida

The Abe administration’s draft budget adopted Tuesday includes ¥4.88 trillion in defense spending in fiscal 2014, a 2.8 percent increase from this year. But the Finance Ministry said most of this year’s increase is a result of the termination of special temporary salary cuts ...

Dec 24, 2013

2014 foreign aid to be cut 1.3% to ¥550.2 billion

The government said Tuesday it will reduce overall foreign aid to ¥550.2 billion in the general account budget for fiscal 2014, down by 1.3 percent, or ¥7.1 billion, from the amount initially allocated for the current fiscal year — the 15th straight year of ...

Dec 24, 2013

Outlays to Okinawa to rise by 15%

The Cabinet said Tuesday that ¥346.0 billion will be earmarked for Okinawa’s economic development in the budget for fiscal 2014, up 15.3 percent from the initial allocation for the current fiscal year and even more than the requested ¥340.8 billion. The rare move to ...

Defense outlays to be hiked 5% amid China threat

Dec 17, 2013

Defense outlays to be hiked 5% amid China threat

The Abe administration said Tuesday it intends to boost military spending by 5 percent over the next five years, including a hardware splurge that will beef up defense of far-flung islands amid the Senkaku row with China. The Cabinet of hawkish Prime Minister Shinzo ...

Dec 17, 2013

Initial '14 budget to rise to record ¥96 trillion

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 ...