Japan Government's 2026 Fiscal Year Budget Approved, Largest Ever at 122.3 Trillion Yen

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Japan's 2026 fiscal year budget, totaling a record 122.3 trillion yen, has been approved, a week later than Prime Minister Takaichi Sanae's target. Key expenditures include social security, defense, and education. Despite record tax revenues, a deficit of 29.5 trillion yen will be covered by new government bonds.