The all-time high fiscal 2010 budget draft approved Friday casts considerable doubt on whether the country can sustain its finances or if through such spending it can buy its way out of the economic slump, experts warn.
With the ballooning public debt and sharp fall in tax revenues, Finance Minister Hirohisa Fujii admitted Friday the government worked really hard to secure revenue sources for the fiscal 2010 budget but had to tap reserves in special accounts.
"Maizokin" (cash reserves in special accounts) have almost run out, Fujii told reporters after the Cabinet adopted the fiscal 2010 budget.