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Japan's Parliament Approves Largest-Ever $881Bln Budget for Fiscal 2017

© REUTERS / Kim Kyung-HoonJapanese Prime Minister Shinzo Abe gives an address at the start of the new parliament session at the lower house of parliament in Tokyo, Japan
Japanese Prime Minister Shinzo Abe gives an address at the start of the new parliament session at the lower house of parliament in Tokyo, Japan - Sputnik International
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Japan's National Diet, the legislative body, approved the budget for the 2017 fiscal year, the largest in the country's history, local media reported Tuesday.

MOSCOW (Sputnik) — According to the NHK broadcaster, the budget would allow the country's authorities to spend some 97 trillion yen ($880.7 billion at the current exchange rates) during the fiscal year that would begin in April.

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The news outlet added citing Japanese Finance Minister Taro Aso that the country's government would exert efforts to balance the country's budget and achieve a primary balance surplus by 2020.

According to Japan's Statistics Bureau, in fiscal 2016, the country's budget was 96.72 trillion yen and 96.34 trillion yen in fiscal 2015.

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