- Seeking to support growth, Japanese Prime Minister Shinzo Abe's cabinet approved a record ¥96.3T ($814B) budget while cutting new borrowing for a third year in a row.
- Rising revenues following the sales tax increase last April enabled Abe to raise spending without increasing the proportion financed by new government bonds, though the total national debt is still well over twice the country's GDP.
- Previously: Japan prepares record budget (Jan. 11 2015)
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