日本122.3兆日圓預算案創紀錄：全球投資者必讀的3大訊號
日本2026財年預算案以122.3兆日圓的規模創下歷史新高。本文深入剖析此舉對薪資成長、財政健康及地緣政治的影響，並為全球投資者提供關鍵指引。
「122.3兆日圓」— 這不僅是數字，更是日本經濟政策的一場巨大賭注。日本政府下一財政年度（2026年度）的總預算案已敲定，規模創下歷史新高。此舉意在為停滯的經濟注入強心針，卻也牽動著全球投資者的目光，機會與風險並存。
史上最大預算，錢花在哪？
根據最終規劃，日本政府新年度一般會計總額將達到約 122.3兆日圓，再次刷新歷史紀錄。預算膨脹的主因，來自於高齡化社會下不斷攀升的社會保障支出。例如，支付給醫療機構的診療報酬已確定整體調漲 2.22%，成為推高總支出的關鍵因素之一。此外，國防預算及國債的利息償付，預計也將繼續佔據龐大份額。
財政刺激能否點燃薪資之火？
日本政府期望，透過大規模的財政擴張，能夠帶動民間企業投資與加薪，從而形成良性經濟循環。巧合的是，金融業已陸續釋出風向，計畫在明年的「春鬥」（春季勞資談判）中，實施與前一年持平或更高的薪資調漲。儘管出現正面訊號，但這股加薪浪潮能否從點到面，擴散至整體經濟並帶來可持續增長，仍是未知之數。
地緣經濟新棋局
在應對國內挑戰的同時，日本在外交舞台上也邁出了新的一步。其中，日本與敘利亞將重啟中斷了約15年的雙邊經濟合作，格外引人注目。此舉可被解讀為一項戰略佈局，意在透過協助該國內戰後的重建工作，確保其在中東的影響力，並尋求新的經濟突破口。
這份創紀錄的預算案，將使日本本已龐大的政府債務雪上加霜。未來可能導致日圓加速貶值、長期利率攀升，甚至被迫增稅，從而對市場及民生造成衝擊。投資者必須密切關注這些潛在風險。
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Japanese brewer Sapporo Holdings is selling its real estate business, including the prime Ebisu Garden Place, to a KKR and PAG-led group for $2.6 billion to focus on its core alcohol business.
Chinese automaker Chery is investing $800 million to build its largest ASEAN factory in Vietnam, set to open in 2026. With a 200,000-unit capacity, it aims to challenge VinFast and Toyota.