In a statement on Tuesday, Japanese Finance Minister Shunichi Suzuki said, “We will continue to work toward the fiscal year 2025 main balance target.
His remarks follow the Japanese cabinet of Prime Minister Fumio Kishida’s approval on Friday of record spending totaling 114.4 trillion yen ($863 billion), including an increase in defense budget.
In response, Suzuki remarked, “I don’t think defense spending has gone beyond. Budget reliance on bond issue has really improved from this year.”
