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Japan scans foreign reserves and non-tax revenues for fiscal room

7/30/2026

Foreign reserves headline a new budget review ordered by Japanese Prime Minister Sanae Takaichi.

The government will examine at least three potential revenue sources: the use of foreign reserves, non-tax revenues, and spending reforms. No figures, targets, or timeline accompanied the statement.

Revenue categories under review Each category applies different pressure to the fiscal position. Spending reforms reduce outflows rather than add inflows.

Non-tax revenues draw on assets or receipts already within the government's perimeter.