TOKYO (Reuters) – Japan's government is in final talks to put together a record budget of more than 115 trillion yen ($732 billion) of the general account for the fiscal year from April, the Jiji news agency reported on Wednesday.
The initial budget is likely to exceed 110 trillion yen for the third year in a row, surpassing last year's total and 2023 to set it at a record high, according to public broadcaster NHK.
The government in September made a record budget request as the Bank of Japan exits its decade-long stimulus program.
The assumed interest rate will rise to 2.1% for the year starting in April from 1.9% this year, raising debt service costs for interest payments and debt repayments, the finance ministry said.
($1 = 157.1100 yen)
