ID :
14082
Mon, 07/28/2008 - 12:24
Auther :
Shortlink :
https://oananews.org//node/14082
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Japan to Set FY 2009 Budget Request Cap at 47.8 T. Yen
Tokyo, July 28 (Jiji Press)--The government is considering capping fund requests by ministries and agencies for policy measures under the fiscal 2009 budget at nearly 47.8 trillion yen, informed source said Saturday.
The envisioned ceiling on general spending, or spending for executing policy measures, is about 500 billion yen higher than the 47.3trillion yen earmarked under the fiscal 2008 budget.
The rise will be attributable to soaring social security costs amidthe aging of Japan's population.
Cabinet members are expected to give their consent to the budgetrequest cap at their meeting Tuesday, the sources said.
The government plans to cut public works spending by 3 pct from the fiscal 2008 level, and retrench defense-related spending, grants to nationaluniversities and subsidies to private schools by one pct each.
But the cost-cutting measures will not be enough to cover a surgein social security spending, according to the sources.
Natural growth in social security costs is expected to reach as much as 870 billion yen due to increases in medical spending and nursing care-related costs, the sources said. The government will strive to curb thespending growth at 650 billion yen, the sources said.
Meanwhile, ministries and agencies will likely be allowed to request up to 300 billion yen in total for priority areas, including measures to cope with shortages of doctors, according to the sources. Theamount is up sharply from 50 billion yen for fiscal 2008.
The envisioned ceiling on general spending, or spending for executing policy measures, is about 500 billion yen higher than the 47.3trillion yen earmarked under the fiscal 2008 budget.
The rise will be attributable to soaring social security costs amidthe aging of Japan's population.
Cabinet members are expected to give their consent to the budgetrequest cap at their meeting Tuesday, the sources said.
The government plans to cut public works spending by 3 pct from the fiscal 2008 level, and retrench defense-related spending, grants to nationaluniversities and subsidies to private schools by one pct each.
But the cost-cutting measures will not be enough to cover a surgein social security spending, according to the sources.
Natural growth in social security costs is expected to reach as much as 870 billion yen due to increases in medical spending and nursing care-related costs, the sources said. The government will strive to curb thespending growth at 650 billion yen, the sources said.
Meanwhile, ministries and agencies will likely be allowed to request up to 300 billion yen in total for priority areas, including measures to cope with shortages of doctors, according to the sources. Theamount is up sharply from 50 billion yen for fiscal 2008.
