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CNA (27 December 2024)

Japan's government on Friday (Dec 27) approved a record budget for the next fiscal year, ramping up spending on social welfare, as the population ages, and defence to tackle regional threats.

The 115.5 trillion yen (US$730 billion) budget for the year from April 2025, greenlighted by the Cabinet, includes 8.7 trillion yen in defence spending.

It also includes social security spending of around 38.3 trillion yen - up from 37.7 trillion the previous year.

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