Japan govt approves record 122 trillion yen budget

The Japanese government on Friday approved a record budget for the upcoming fiscal year, to pay for everything from bigger defence spending to ballooning social security costs as inflation persists.The 122.3-trillion-yen ($782 billion) budget for the fiscal year from April 2026 will include some nine trillion yen for defence spending, as Prime Minister Sanae Takaichi aims to accelerate Tokyo’s sweeping upgrade of its military in the face of worsening relations with China.The defence ministry said in a briefing document that “Japan faces the most severe and complex security environment since the end of the war,” stressing the need to “fundamentally strengthen” its defence capabilities. At the core of its request is 100 billion yen for the so-called SHIELD coastal defence system, which would marshal drones to block any invasion by foreign troops. Japan is hoping that SHIELD — Synchronised, Hybrid, Integrated and Enhanced Littoral Defence — will be completed by March 2028, with no details yet on which part of Japan’s coastline it will be linked to. The 122-trillion-yen figure compares with the 115 trillion yen sought for the current fiscal year to March, which was also a record. The expanding budget comes as the market worries about Takaichi’s big spending policies adding to Japan’s public debts.Japan already has the biggest ratio of debt to gross domestic product (GDP) among major economies, projected to reach 232.7 percent this year, according to the International Monetary Fund.Earlier this month parliament approved a massive extra budget, to pay for a 21.3-trillion-yen stimulus announced a month earlier.The market has reacted by driving down the value of the yen while the benchmark yield rose for Japanese government bonds. Some observers have drawn comparisons to the UK’s 2022 bond market turmoil under then-premier Liz Truss.Takaichi has advocated big government spending to spur economic growth.”What Japan needs right now is not the undermining of our strength as a nation through excessive austerity fiscal policies, but rather the bolstering of our national strength through proactive fiscal policies,” she told a press conference last week.In an interview Tuesday with the influential Nikkei business daily, Takaichi stressed her commitment to Tokyo’s fiscal health, rejecting any “irresponsible bond issuance or tax cuts.”The current size of the budget is unlikely to shock the bond market, Takahide Kiuchi, executive economist at Nomura Research Institute, wrote in a note ahead of Friday. But an increase to around 125 trillion yen or more, he said, would cause the “turmoil in the bond market, already in crisis mode, to deepen further”. Kiuchi noted that, under Takaichi, the extra budget quickly ballooned, reaching $18 trillion yen.”Financial markets are likely on high alert for a similar occurrence. Should the fall of the yen and bond prices further accelerate due to the size of the budget, it would increase worries about adverse effects on the economy and people’s lives.”A weaker yen raises prices of imports for resource-poor Japan, which relies heavily on foreign food, energy and raw materials to power its economy. Takaichi came to power in October with a pledge to fight inflation after anger over rising prices.Another challenge facing the country is its ageing population, caused by chronically low birth rates and a cautious approach to immigration.The draft budget needs to be approved by parliament.

Stateless Rohingya rue Myanmar’s election from exile

Myanmar’s military portrays its general election as a path to democracy and peace, but the vote offers neither to a million Rohingya exiles, robbed of citizenship rights and evicted from their homeland by force.”How can you call this an election when the inhabitants are gone and a war is raging?” said 51-year-old Kabir Ahmed in Bangladesh’s Kutupalong, the world’s largest refugee camp complex.Heavily restricted polls are due to start Sunday in areas of Myanmar governed by the military, which snatched power in a 2021 coup that triggered civil war.But for the Rohingya minority, violence began well before that, with a military crackdown in 2017 sending legions of the mostly Muslim group fleeing Myanmar’s Rakhine state to neighbouring Muslim-majority Bangladesh.The month-long election will be the third national poll since they were stripped of their voting rights a decade ago, but comes amid a fresh exodus fuelled by the all-out war.Ahmed once served as chairman of a villageof more than 8,000 Rohingya in Myanmar’s Maungdaw township, just over the border from Cox’s Bazar in Bangladesh.After their eviction, the area is now a “wasteland”, he told AFP.”Who will appear on the ballot?” he asked.”Who is going to vote?”- ‘Send us back’ -Today 1.17 million Rohingya live crammed in dilapidated camps spread over 8,000 acres in Cox’s Bazar.The majority came in the 2017 crackdown, which is now the subject of a UN genocide court case, with allegations of rampant rape, executions and arson.Civil war has brought fresh violence, with the Rohingya caught between the warring military and separatist group the Arakan Army, one of the many factions challenging the junta’s rule.Both forces have committed atrocities against the Rohingya, monitors say.Some 150,000 people fled the persecution to Bangladesh in the 18 months to July, according to UN analysis.The UN refugee agency said it was the largest surge in arrivals since 2017.Aged 18, Mohammad Rahim would have been eligible to vote this year — if he was back home, if his country acknowledged his citizenship, and if polling went ahead despite the war.”I just want the war to end and for steps to be taken to send us back to Myanmar,” said Rahim, the eldest of four siblings who have all grown up in the squalid camps.The Arakan Army controls all but three of Rakhine’s 17 townships, according to conflict monitors, meaning the military’s long-promised polls are likely to be extremely limited there.The military has blockaded the coastal western state, driving a stark hunger and humanitarian crisis.Rahim still craves a homecoming.”If I were a citizen, I would negotiate for my rights. I could vote,” he said.”I would have the right to education, vote for whoever I wanted, and work towards a better future.”- Fate ‘unchanged’ -Successive military and civilian governments in Myanmar have eroded the citizenship of the Rohingya, dubbing them “Bengali” as descendants of immigrants who arrived during British colonial rule.A 1982 law excluded them from full citizenship — unlike the other 135 ethnic groups recognised in Myanmar — and they were issued separate ID cards.They were then deprived of the right to vote in 2015, just as most other people in Myanmar won more freedoms and military rule was relaxed.”Will anyone who wins recognise us as citizens?” asked 52-year-old refugee Rehana Bibi.”We are not a concern for anyone in Myanmar,” the mother of six lamented in her tarpaulin-covered hut.”Whether military-backed candidates or others win, the fate of the Rohingyas will remain unchanged.”In July, for the first time since their influx began eight years ago, Rohingyas held an election for their representatives inside 33 camps in Cox’s Bazar.”We printed ballot papers and ran awareness programmes on democracy with the hope that someday we would return home and practise it there,” said 33-year-old community leader Sayed Ullah.Ahmed, the exiled village chairman, still dreams of an election back home.”I was a teacher, but my people wanted me to lead them,” he said. “I won three times straight.””I am sure I would win again if only I got the chance,” he said, his face lighting up.

Guinea’s presidential candidates hold final rallies before Sunday’s voteFri, 26 Dec 2025 00:21:54 GMT

Presidential candidates in Guinea, including junta leader General Mamady Doumbouya, held their final political rallies Thursday ahead of this weekend’s elections. A total of 6.8 million people in the west African nation are eligible to vote Sunday between 7:00 am and 6:00 pm (0700 and 1800 GMT), choosing between nine candidates, including 41-year-old Doumbouya, who is …

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Enregistrements de conversations de Thomas Legrand: une enquête ouverte, nouvelle plainte du journaliste

Le parquet de Paris a confirmé jeudi à l’AFP avoir ouvert une enquête sur l’enregistrement clandestin d’une conversation des journalistes Patrick Cohen et Thomas Legrand, ce dernier ayant par ailleurs déposé une nouvelle plainte, après la divulgation d’informations sur un autre échange privé, avec une ex-patronne de France Inter.Une source proche du dossier avait déjà …

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