Jan 14, 2015

¥131 billion earmarked in upcoming budget for renewable energy

The Abe administration decided Wednesday to boost efforts next year to promote renewable energy following the Fukushima nuclear crisis, after the feed-in tariff system, which guarantees above-market rates for selling energy produced from clean sources, ran into trouble only two years after its introduction. ...

'Yes we can!' president faces twilight of maybes

Dec 28, 2014

'Yes we can!' president faces twilight of maybes

It was supposed to be a joke. “Are you still president?” comedian Stephen Colbert asked Barack Obama earlier this month. But the question seemed to speak to growing weariness with the president and skepticism that anything will change in Washington during his final two ...

Abe vows to 'steadily achieve' fiscal reform goal in fiscal 2015

Dec 23, 2014

Abe vows to 'steadily achieve' fiscal reform goal in fiscal 2015

Prime Minister Shinzo Abe said his administration will “make every effort to steadily achieve” its fiscal rehabilitation goal in fiscal 2015, while promising to streamline public spending. Abe’s remarks came during a meeting Monday of the Council on Economic and Fiscal Policy, where the ...

Dec 18, 2014

Next year's budget expected to hit record ¥98 trillion

The general account budget for fiscal 2015 is likely to reach a record high of about ¥98 trillion, exceeding the ¥95.9 trillion initial budget for this year, Finance Ministry sources said. With Prime Minister Shinzo Abe eager to shore up the flagging economy, policy ...

Next year's draft budget unlikely to be cleared until Jan. 14

Dec 11, 2014

Next year's draft budget unlikely to be cleared until Jan. 14

The Abe administration is looking to adopt the draft budget for fiscal 2015 at a Cabinet meeting Jan. 14, assuming the ruling coalition wins Sunday’s election as expected, according to informed sources. In another key step for compiling the budget for the fiscal year ...

Oct 31, 2014

Next extra budget likely to weigh in at only ¥3 trillion

The government is considering compiling an extra budget of only ¥3 trillion for fiscal 2014 ending in March to prevent the economy from drooping further from the consumption tax hike in April, sources close to the matter said Friday. The extra budget compiled for ...

Sep 2, 2014

Put fiscal health ahead of politics

Ballooning budget requests by ministries for fiscal 2015 total more than ¥100 trillion for the first time, raising serious doubts about the Abe administration's commitment to fiscal discipline.