The government in Japan has assigned 82.9 trillion yen for the fiscal year 2007.
Japan budget for the current year (2007), is approximately 4% higher than 79.69 trillion yen, the financial allocation for the year 2006.
Japan budget comprises 32 Special Account and the General Accounts budget. Diet or the Japanese parliament approves of the budget. Japan has as many as 9 financial bodies affiliated by the government.
General Account Japan Budget:
The General account budget is often referred to as “the budget”. The General accounting budget has details of expenses pertaining to government projects and programs. These may include programs related to science, education, social security, public works, energy resources, national security of the country or defense activities, economic coordination. It provides an overview of the government policies.
Special Account Japan budget:
Whenever the Japanese government intends to carry out certain tasks which do not fall in the category of General accounting, the special account budget is prepared.
Agencies affiliated to the government:
The agencies affiliated to the government function as per special laws. Their approach is more flexible in terms of accounting as well as personnel management.
Japan's defense budget:
The defence budget of Japan allocates funds for the various defense activities of the country. The following provides some statistics on the defense budget of Japan.
- In the year 2005, 4.933 trillion yen was assigned.
- For financial year 2007, USD$41.75 billion was allotted.
- Expenses incurred for various defense programs amounted to approximately 4.9395 trillion yen for the year 2002.
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