On December 24, 2021, the government approved a record high ¥107.6 trillion general-account budget, roughly ¥1 trillion higher than the initial budget for the current fiscal year. This is the tenth consecutive year to mark a record high and the fourth straight year for the initial budget to exceed ¥100 trillion. Social security spending, which accounts for about one-third of all expenditures, increased by ¥439.3 billion at the beginning of the previous fiscal year to ¥36.3 trillion. Defense expenditures marked a record high for the eighth consecutive year, increasing by 1.0% to ¥5.4 trillion, mainly due to an ... (full story)