Japan is set to unveil on Friday a record $864 billion budget for the next fiscal year from April, pushed up by increased military spending and higher social security costs for a fast-ageing population, according to a final draft reviewed by Reuters.
The draft budget - to be endorsed by Prime Minister Fumio Kishida's cabinet along with government bond issuance plan - points to a narrow path for the government to achieve its fiscal target as it tries to pull the world's No.3 economy out of the COVID-induced doldrums.
