News Snapshot:
Japan is set to unveil on Friday a record $864 billion budget for the next fiscal year from April, pushed up by increased military spending and higher social security costs for a fast-ageing population, according to a final draft reviewed by Reuters. The draft budget – to be endorsed by Prime Minister Fumio Kishida’s cabinet along with government bond issuance plan – points to a narrow path for the government to achieve its fiscal target as it tries to pull the world’s No.3 economy out of the COVID-induced doldrums. Tokyo aims to achieve a primary budget surplus, excluding new bond...
