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Japan’s budget request for the next fiscal year reaches a record high of approximately 143 trillion yen

Japan’s budget request for the next fiscal year reaches a record high of approximately 143 trillion yen

智通财经智通财经2026/09/01 09:31
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(1) Japan's ministries and agencies have submitted record-breaking budget requests for the next fiscal year, totaling approximately 143 trillion yen (about 894 billion US dollars). Among these, the Ministry of Economy, Trade and Industry has requested more than five times last year's amount, while ministries in the areas of defense and social security have also submitted record budget requests. (2) The benchmark 10-year Japanese government bond yield rose to 3% on Tuesday, marking its first return to this level since 1996. The market is paying close attention to the actual scale of government spending and financing methods, with ongoing concerns about fiscal prospects continuing to put pressure on the bond market. (3) Japan's Minister for Growth Strategy stated that the government is reforming its budget formulation process. The Prime Minister has put forward a strategy to move away from reliance on supplementary budgets. Therefore, when comparing budget requests for fiscal year 2027, they should be measured against the total for the supplementary budget of fiscal year 2025 and the initial budget of fiscal year 2026.
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