As outlays will far exceed tax revenues, requiring a record amount of new bond issues, the government has a long way to go before it gets its snowballing debt under control, experts said.

The budget, 0.4 percent larger than this year's ¥81.79 trillion, covers the year beginning April 1. It will be submitted to the Diet in January along with a ¥150.5 billion supplementary budget for the rest of fiscal 2003.

The Japan Times Weekly: Jan. 3, 2004
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