Japan's Takaichi Unveils Record Budget Amid Inflation, Defense Spending

Japans Prime Minister Sanae Takaichi unveils record budget, aiming to stimulate growth amid inflation and geopolitical tensions. The budget, totaling 29.6 trillion yen, will be funded by new bond issuance, with debt as a percentage of GDP expected to dip slightly. Investors remain cautious, with yields on longer-term bonds rising, but solid tax revenues and steady bond issuance ease market jitters. Debt-servicing costs are increasing, with provisional interest rates set at 3%, the highest since 1997. Takaichi maintains the budget strikes a balance for growth and sustainability.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.