The Lower House approved on Tuesday a record ¥107.60 trillion draft budget for fiscal 2022, swollen by growing social security and national defense costs, setting the stage for its enactment before April 1.
It is the second-fastest passage of an initial budget by the House of Representatives under the postwar Constitution, after the Feb. 19 passage of the fiscal 1999 budget.
The general-account budget will be a record high for the 10th year in a row, up from the initial ¥106.61 trillion for fiscal 2021.