Japan’s budget to hit record $735 billion

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TOKYO — Japan’s government is set to compile a record $735 billion budget for the fiscal year from April due to larger social security and debt-servicing costs, adding to the industrial world’s heaviest debt, a draft seen by Reuters showed.

The 115.5 trillion yen draft budget is being compiled as the Bank of Japan (BOJ) shifts away from its decadelong stimulus program, putting more burden on the government to stimulate the economy.

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