Japan's national budget includes JRA contribution
In the general budget set by the Japanese Finance Ministry on Thursday, a projected 7.7% decline in tax revenue was to be partially offset by an increase in nontax revenue that includes "special contributions" of $38.9-million, dubbed "hidden borrowing," from the Japan Racing Association, the Yomiuri Shimbun reports.
The contribution is but a small part of a projected 22.4% increase in total nontax revenues, which will reach $32-billion in fiscal 2002. By law, the JRA, a semi-governmental organization, must turn over 10% of betting receipts and half its profits to the national treasury at the end of each year.