• Kyodo News


The government will probably set its budget request ceiling for fiscal 2010 in early July, about a month earlier than normal, taking into account the looming general election, Finance Minister Kaoru Yosano said Friday.

“Considering our schedule for other events, I believe the ceiling will most likely be set in early July,” Yosano said at a regular news conference.

Yosano said if the ceiling is not set then, the government will find it difficult to prepare for its budget-making process for the year starting next April due to a series of important upcoming events, including the House of Representatives election and the July Group of Eight summit in Italy.

The government is scheduled to decide next Tuesday on its basic economic and fiscal policies for 2009. The basic polices will serve as its guideline for the fiscal 2010 budget.

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