Japan lower house OKs record 107.6 tril. yen budget for FY 2022

Japan's lower house approved Tuesday a record 107.60 trillion yen ($938 billion) draft budget for fiscal 2022 swollen by growing social security and national defense costs, setting the stage for its enactment before the year starts on April 1.It is the second-fastest passage of an initial budget by the House of Representatives under Japan's postwar Constitution, after the Feb. 19 passage of the fiscal 1999 budget.The general-account budget will be a record high for the 10th year in a row, up from the initial 106.61 trillion yen for fiscal 2021.Following the passage, the budget will be delib…READ FULL ARTICLE