politics

Fiscal 2016/17 budget requests hit record Y102.4 tril

15 Comments
By Takaya Yamaguchi

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Let me see, arms, infrastructure or welfare. Which has the biggest kickbacks?

0 ( +2 / -2 )

Japan’s government offices have requested 102.4099 trillion yen ($852.14 billion)

and non-debt-servicing spending reached 76.3556 trillion yen.

Well the Yaks are going to be vey happy.....

debt-servicing costs accounted for a record 26.0543 trillion

So around $218 billions, here are the GDP of a few "small countries" as of 2015:

Denmark -> $297 billion

Singapore -> $296 billion

Finland -> $235 billion

Ireland -> $220 billion

Greece -> $207 billion

Portugal -> $201 billion

New-Zealand -> $192 billion

Again I am comparing here the GDP of entire countries to what Japan has to pay for debt-servicing costs. This is so screwed up!

I am sure we will again hear the usual BS that Japan owns its debt, but the reality is that this self-owned debt is costing the country an insane amount of money. And compare the debt-servicing costs to the cost for social security spending.

2 ( +4 / -2 )

pro-growth policy steps

This is another way to say "corporate welfare perks".

2 ( +3 / -1 )

The government budget continues to grow. One factor is obviously going to be the aging population with ever increasing pension and healthcare costs but as also noted, servicing the government debt is another huge factor.

Goverment spending is going to be very hard to contain and it's hard to imagine them ever getting on top of it.

0 ( +1 / -1 )

Spend spend, it's someone else problem in 10 years.

2 ( +3 / -1 )

remember the heady days when the frugality and good common sense of the Japanese was the topic du jour?

2 ( +4 / -2 )

Oh this is the higher budget from last year according the requirement & needs of government.

0 ( +0 / -0 )

@SenseNotSoCommonSEP. 04, 2015 - 04:23PM JST

Let me see, arms, infrastructure or welfare. Which has the biggest kickbacks?

Welfare. It must become a "best effort" system if Japan is to survive.

-1 ( +0 / -1 )

The 2016/17 budget marks a key step in the government’s plan to balance the primary budget, excluding new bond sales and debt servicing, by the fiscal year that ends in March 2021.

Japan long timers probably remember when the Koizumi administration was aiming to balance the budget in... wait for it, 2010. Of course the 2008 financial crisis screw up their plans. Expect the same kind of BS excuses(slowdown in China etc.) in 5 years when they aim to balance the budget in 2030.

1 ( +1 / -0 )

Socialism works so well...

-2 ( +1 / -3 )

The 2016/17 budget marks a key step in the government’s plan to balance the primary budget, excluding new bond sales and debt servicing, by the fiscal year that ends in the year 2525.

If man is still alive

0 ( +0 / -0 )

These are government budget requests.

The Ministry of Finance will scrutinize the budget requests and trim them before it drafts an annual budget in December, as Japan needs to rein in public debt that is already twice the size of its economy, by far the largest in the developed world.

These figures are the parable of wishful thinking....Nothing more

HI daito_hak..... Below are the audited OECD stats... Coded level of GDP per capita and productivity as of 04 Sept 2015...

Take your pick, none will have any relevance to ministry of finance budget requests, but they are up to date, big and small countires.

https://stats.oecd.org/Index.aspx?DataSetCode=PDB_LV

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Of the total budget requests, debt-servicing costs accounted for a record 26.0543 trillion yen, due to ballooning public debt,....

Prime Minister Shinzo Abe's second term will be best known for adding mountains of debt with his wildly off-target economic policy arrows.

-2 ( +0 / -2 )

It's just the old boys club trying to get what they can while they can.

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Of the total budget requests, debt-servicing costs accounted for a record 26.0543 trillion yen,

It takes about 5 minutes and a couple of Google searches for the easily available figures on total "debt" and the rate of interest paid on this "debt" to prove that the "debt servicing" numbers put out by the Ministry of Finance are fraudulent. Overestimated by at least 10 times, the real figure is around 2 trillion yen. They obviously have a political agenda of trying to scare the clueless politicians and the clueless sheeple with scary numbers so they can push through more of their bogus "policies"and "reforms", in particular another consumption tax hike recession.

0 ( +1 / -1 )

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