(VOVworld) - Japan's parliament has enacted a record-high budget of 97.5 trillion yen (880 billion USD) for fiscal 2017, which begins April 1, to handle soaring social security costs and military spending and stimulate an economy stagnant due to deflation.
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A cargo port in Tokyo (AFP/VNA)
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Japan's House of Councilors, dominated by Abe's ruling coalition Liberal Democratic Party and Komeito Party, cleared the budget on Monday, a month after the House of Representatives passed the budget.
Kyodo news agency reported that Japan’s Ground Self-Defense Force will build a Dynamic Joint Defense Force in the next fiscal year to counter potential attacks on Japan’s islands.