Japanese government at risk of shutdown due to lack of finance

In the first half of fiscal 2012, Japan's budget deficit increased by 90.1% compared to the same period in 2011.

Japanese Prime Minister Noda warned on October 29 that the operations of state agencies are at risk of being disrupted due to lack of finance.

According to Mr. Noda, if the current political deadlock over the budget deficit financing bill is not resolved, state agencies will have to stop working, affecting people's daily lives and preventing economic recovery.

A technical bill that would allow the center-left government to issue bonds is stuck in parliament amid opposition from the country’s main opposition Liberal Democratic Party. The bond issue could raise 40 percent of the country’s budget for the current fiscal year, but the political deadlock has delayed many government spending items.

In the first half of fiscal year 2012 (April-September 2012), Japan witnessed a deficit increase of 90.1% compared to the same period in 2011 and was the highest level since the Japanese Ministry of Finance started statistical work in 1979./.

According to VOV - DT