Expenditure in 2015 fiscal year

Article 12 of Japan’s Public Finance Act (PFA)
establishes the principle of a balanced budget,
in which expenditure is offset by revenues and
borrowing: ‘The expenditure of each fiscal year
shall be defrayed by the revenue of said year’. The General Account budget for the 2015 fiscal
year (1 April 2015 to 31 March 2016) was
¥96.3 trillion1 (€723.6 billion), making it the
largest amount in Japanese history. It amounts
to 19.2% of the country’s GDP of around
¥500 trillion. The budget for the 2014 fiscal year was ¥95.88 trillion. Source: Japanese Ministry of Finance, July 2015.