In the next fiscal year's budget bill, which was approved by the Cabinet on the 21st, general account expenditures will increase to a record high, while government bonds will account for more than 40% of total revenues for the first time in seven years.
To stem the deterioration of more financial, not essential to the recovery of the economy, but questioned the effectiveness of the business, which was included in the budget, in the prospect of convergence of the new coronavirus is not stand, difficult steering is continued I will.
The national budget for the next fiscal year was 106,609.7 billion yen in total for the general account due to the increase in social security costs and the response to the new coronavirus, which exceeded the initial budget for this year by nearly 4 trillion yen, the largest ever. ..
On the other hand, looking at revenues, tax revenues are 57,448 billion yen, which is more than 6 trillion yen less than the initial budget for this fiscal year, and new government bond issuance amounts are 43,579 billion yen, which is more than 11 trillion yen.
As a result, the ratio of government bonds to the total revenue is 40.9%, which exceeds 40% for the first time in seven years at the initial budget stage, and the financial situation is becoming more serious.
The government decided last week that it needed seamless support, and based on the idea of a "15-month budget" combined with this year's third supplementary budget, it will take measures to prevent the spread of infection and the economic structure for post-corona. By the end of next year, GDP = gross domestic product is expected to recover to pre-Corona levels as it includes businesses aimed at conversion.
However, if the infection spreads more than expected and economic activity stagnates significantly, tax revenues may fall.
Economic recovery is indispensable to stop further financial deterioration, and the effectiveness of the business will be questioned, but difficult steering will continue while the prospect of convergence of the new coronavirus is uncertain. Become.