TOKYO, July 23 (Reuters): Japan will cut discretionary spending such as public works by 10 per cent in next fiscal year's budget, a draft document showed, as Prime Minister Shinzo Abe's government seeks to cut the government's enormous deficit even as it promotes growth.
The savings of just under 4 trillion yen ($39 billion), detailed in the document seen by the news agency on Wednesday, are equivalent to the amount that the government wants to add for Abe's "growth strategy", economic reforms intended to raise Japan's long-term potential growth rate.
The document, a draft of the Finance Ministry's guidelines for budget requests for the fiscal year starting next April, is expected to be approved by Abe's cabinet on Friday, said a person familiar with the process.
Japan to cut discretionary spending 10pc in next budget
FE Team | Published: July 24, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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