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Japan plans record $944bn budget, marking 10-year spending spree

Pandemic response and aging population drive up expenses

The pandemic response and rising social security costs will again push up Japan's annual budget to a record high.    © Reuters

TOKYO -- Japan is set to propose a 107 trillion yen ($944 billion) budget for fiscal 2022, with the pandemic response and rising social security costs again driving the total to a record high.

The figure would mark the 10th straight year of record spending. New bond issuances will decline for the first time in two years thanks to a rise in tax receipts.

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