Japan FY 2027 budget requests likely to top 143 trillion yen

Japan's government is poised to set a record for general account budget requests for fiscal year 2027, with total submissions expected to exceed 143 trillion yen, driven by a significant defense spending increase and rising debt-servicing costs. The Finance Ministry concluded accepting budget requests from agencies and ministries on August 31, 2026, for the fiscal year beginning in April 2027. The anticipated total represents a new high for the fourth consecutive year and is substantially above the 122.4 trillion yen sought for the current fiscal year.