Japan Cabinet approves record 122.3 trln yen draft budget for fiscal 2026

TOKYO, Dec. 26 (Xinhua) -- Japan's Cabinet on Friday approved a draft budget worth about 122.3 trillion yen (about 785 billion U.S. dollars) for the next fiscal year starting April, local media reported.

The huge spending, the first full-scale budget under Prime Minister Sanae Takaichi, marks a record high for the second straight year following the fiscal 2025 initial budget at about 115.2 trillion yen. ■