TOKYO, March 1 (Xinhua) -- Japan's lower house of parliament on Tuesday approved a record 114.38 trillion yen (836.90 billion U.S. dollars) budget for fiscal year 2023, with record allocations made for social security costs while controversial defense spending has been factored in despite the country's grim fiscal health.
A record 36.89 trillion yen (269.81 billion U.S. dollars), the largest amount ever, has been included in the budget for ballooning social security costs in a bid to deal with Japan's rapidly aging population.
The government's budget also includes 6.82 trillion yen (49.88 billion U.S. dollars) in defense spending.
Produced by Xinhua Global Service
