The government is adjusting the budget for the next fiscal year and the 4th fiscal year of Reiwa so that the total amount of the general account will be in the upper 107 trillion yen range.
Due to an increase in social security costs due to the aging of the population, the initial budget for this year will be exceeded, and the initial budget is expected to be the largest ever.
The work to formulate the initial budget for next year has come to a close.
According to the people concerned, the adjustment so far has been to raise the income of people involved in nursing, etc., in addition to the increase in medical care and long-term care, as the so-called baby boomer generation will be over 75 years old due to the aging of social security expenses. It is expected that defense spending will increase in addition to exceeding this year due to the inclusion of costs.
As a result, the total amount of the general account of the initial budget for the next fiscal year is being adjusted to be in the upper 107 trillion yen range.
The total amount of the general account of the initial budget exceeds 100 trillion yen for the fourth consecutive year, exceeding 106,609.7 billion yen this year, which is expected to be the largest ever for the initial budget.
On the other hand, revenue is expected to be about 65 trillion yen, which is higher than this year, as the business performance of companies that have fallen due to the new corona tends to recover.
We will issue new government bonds to cover the shortfall, but we plan to keep the amount of new government bonds issued below the initial budget for this fiscal year.
Next week, after negotiations between ministers, the government will make a cabinet decision on the budget for next year and submit it to the ordinary session of the Diet at the beginning of the year.