2018.03.22
In this column series, Yukihiro Matsuyama, Research Director at CIGS introduces the latest information about aging, safety net and fiscal crisis in Japan with data of international comparison.
Table 1 summarizes the budget for Fiscal Year 2018 (April 2018-March 2019). The government emphasizes that tax revenues will increase by 1,367 billion yen as a result of economic policy and that the deficit in the primary balance will shrink by 451 billion yen. However, the Bond Dependency Ratio, which is the proportion of issuance of government bonds in general account revenues, remains high at 34.5%. Moreover, the Abe administration is planning to postpone the target period of the basic fiscal balance, which is one of the cornerstones of fiscal reconstruction, from 2025 to 2027. The necessary financial resources for social security, which is the biggest factor of the increase in expenditure, will continue to increase. A drastic reform of social security is unavoidable. However, the government decided to raise fees for medical care, long-term care, and disability welfare service in April 2018.
（Source）Ministry of Finance
July 17, 2019
Research Director
Kazuhito YAMASHITA
July 17, 2019
Research Director
Yukihiro MATSUYAMA
July 17, 2019
Research Director
Yukihiro MATSUYAMA
July 17, 2019
Research Director
Yukihiro MATSUYAMA
July 16, 2019
Senior Research Fellow Tomoyuki NAKAJIMA
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