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Friday, Japanese prime minister Yukio Hatoyama announced a record budget of 92.3 trillion yen for the next fiscal year that starts on April 1, 2010.
This is the first budget since Hatoyama's Democratic Party of Japan gained power in September. The government also plans to issue 44.3 trillion yen worth of new government bonds next fiscal year to cover a revenue shortfall. Further, the government said it expects the economy to grow 1.4% next fiscal year.
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