January 27, 2023

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Japanese ministries are requesting a $ 1 trillion budget for 2021


Japanese government ministries and agencies have requested 105.41 trillion yen (one trillion dollars) in Japan’s general account budget for the 2021 fiscal year that begins next April, according to data from the Finance Ministry in Tokyo.
The sums requested do not include spending plans to continue fighting the Corona virus epidemic, which is expected to reach a few trillion yen. Japan’s economy contracted by 28.1% in the April-June quarter due to the economic fallout from the Coronavirus pandemic.
Business and corporate sentiment in Japan improved in September, but the pace of recovery varied by sector, according to a report by the Teikoku Information Center. The spread of business sentiment index rose 1.9 points from the previous month to 31.6 points. The increase in public works projects, the number of travelers over the weekend, and the increase in capital investment contributed to the improvement.
The agriculture, forestry and fishing sector saw a decline in business sentiment, with the textile and furniture goods sectors in the retail sector.
The report expected business sentiment to stabilize, and that increased production and capital investments after the return of economic activity following the lifting of restrictions imposed due to the Coronavirus will raise morale. But the report called for close attention to the infection situation in Japan and the pace of the global economic recovery. (WAM)