Japanese Prime Minister Shinzo Abe on Tuesday secured cabinet approval for a draft budget for the next fiscal year that aims to split the benefits of higher tax revenue between trimming fresh borrowing and stimulating the economy with record spending. The government's second annual budget since Abe's election triumph a year ago marks a balancing act between boosting growth and doing just enough to show it is keen to rein in public debt, which is more than twice the size of the economy. Of projected record spending of 95.88 trillion yen ($921.97 billion) in 2014/15, about one-third will be spent on social security while debt servicing costs will account for nearly one-quarter. "Hasty fiscal tightening could derail the economy and foil the sales tax plan in 2015."
via Business News - Yahoo Finance http://finance.yahoo.com/news/japans-record-budget-spending-highlights-015238169.html
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