Japanese gov't budget requests for FY 2019 hit record high

Budget requests by Japan's government ministries and agencies for fiscal 2019 reached a record-high 102.5 trillion yen ($923 billion) amid snowballing social security costs and increasing defense spending, government officials said Friday.That figure suggests that the initial general account budget for the year beginning next April could top 100 trillion yen for the first time, making it all the more difficult for the government to achieve fiscal consolidation.Prime Minister Shinzo Abe's administration is also preparing an additional fiscal stimulus package aimed at underpinning domestic de…READ FULL ARTICLE