Japan's lower house approves record 836.9 bln USD budget for FY 2023

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Japan's lower house approves record 836.9 bln USD budget for FY 2023

STORY: Japan's lower house approves record 836.9 bln USD budget for FY 2023 DATELINE: March 1, 2023 LENGTH: 00:01:11 LOCATION: Tokyo CATEGORY: ECONOMY/MILITARY SHOTLIST: 1. various of Japan's lower house of parliament 2. various of protest against the record defense spending STORYLINE: Japan's lower house of parliament on Tuesday approved a record 114.38 trillion yen (836.9 billion U.S. dollars) budget for fiscal year 2023, with record allocations made for social security costs while controversial defense spending has been factored in despite the country's grim fiscal health. A record 36.89 trillion yen (269.81 billion U.S. dollars), the largest amount ever, has been included in the budget for ballooning social security costs in a bid to deal with Japan's rapidly aging population. The government's budget also includes 6.82 trillion yen (49.88 billion U.S. dollars) in defense spending. This is part of the government's plans to bolster its defensive capabilities, with the broader five-year plan d

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