Japan approves $1.16-trillion budget
- Published: 25/12/2011 at 02:36 AM
- Online news: World
Japan's cabinet approved Saturday a 90.334 trillion yen ($1.16 trillion) budget for the 2012 fiscal year, with a record 49 percent financed by bonds even as the country struggles to rein in its massive public debt.
File photo shows Ginza metro station in Tokyo. Japan's cabinet approved Saturday a 90.334 trillion yen budget for the 2012 fiscal year, with a record 49% financed by bonds even as the country struggles to rein in its massive public debt.
Finance Minister Jun Azumi said Japan had reached its "limit" in relying on debt and said he was aware the global community was watching him in light of the serious debt woes in Europe.
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About the author
- Writer: AFP News agency
- Position: Agence France-Presse
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