Japan’s annual budget requests for next fiscal year hit 110 trln yen – MOF

TOKYO (Reuters) – Japan’s annual finances requests for the following fiscal yr hit $784 billion as an anticipated improve in army outlays added to already rising debt-servicing and welfare prices, the Ministry of Finance stated on Monday, underscoring the nation’s worsening fiscal well being.

The ballooning spending request from ministries highlights the tough balancing act Prime Minister Fumio Kishida faces in supporting a weak economic system, whereas countering China’s rising army presence and reining in Japan’s large public debt.

Spending requests made by ministries for subsequent fiscal yr’s finances totaled 110.0484 trillion yen, the ministry stated.

($1 = 140.3500 yen)

(Reporting by Tetsushi Kajimoto; Modifying by Kim Coghill)