Japan Noda vows to keep spending, borrowing caps

TOKYO: Prime Minister Yoshihiko Noda said on Friday Japan's government will stick to its aim of capping general spending and new borrowing when compiling the 2012/13 budget at the current year's levels.

The government is expected to compile later this month a draft budget for the fiscal year from April, with the aim of capping general spending at 71 trillion yen ($911 billion) and new bond issuance at 44 trillion yen to maintain fiscal discipline.

Noda was speaking at a meeting a cabinet ministers on compilation of the budget.