trending Market Intelligence /marketintelligence/en/news-insights/trending/MJvus32UwTFTMl11pMWQGQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Japan OKs record budget for 2020 fiscal year

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive


Japan OKs record budget for 2020 fiscal year

Japan's Ministry of Finance approved a record spending plan for the next fiscal year, with budget hikes for defense and welfare, media outlets reported.

The proposed budget for fiscal year starting April 2020 represents an increase of 1.2% to nearly ¥102.7 trillion. Spending on social welfare was increased by about ¥1.7 trillion from the prior fiscal year to ¥35.8 trillion, according to the Nikkei Asian Review.

The ministry also authorized raising the country's defense budget by 1.1% to a record ¥5.31 trillion, marking the eighth straight year of increase, Reuters reported.

Part of the total budget will help fund the fiscal stimulus package approved earlier this month to support the economy by cushioning the effects of natural disasters, falling exports and the recent increase in the consumption tax, Reuters reported separately.

The fiscal 2020-2-21 draft budget is subject to parliament's approval in early 2020.

Following the release of the draft budget, Finance Minister Taro Aso said Japan remains dedicated to balancing its books by fiscal 2025 and that reforms meant to control spending would continue, Bloomberg News reported.

As of Dec. 19, 2019, US$1 was equivalent to ¥109.26.