Japanese parliament passes JPY 96.72 tln budget for FY2016

As Reuters reports, the Japanese upper house has approved the ¥96.72tn budget for FY2016. Although PM Abe’s decision over the next sales tax hike and more economic stimulus measures on spending still remains impending.

Earlier, sources told Reuters that the government has begun considering a tax-hike delay and more fiscal stimulus to the tune of JPY 5 – 10 tln.

Abe is expected to make a final decision on the sales tax late in May, around a May 26-27 G7 summit that will be hosted by Japan.