Japan to Compile 2nd Extra Budget for COVID-19 Response
Tokyo, May 11 (Jiji Press)--The Japanese government and ruling coalition plan to submit a second draft supplementary budget for fiscal 2020, featuring new economic measures related to the COVID-19 epidemic, during the ongoing session of the Diet, Japan's parliament, informed sources said Monday.
Some members of the ruling Liberal Democratic Party said that the fiscal expenditures should reach 5 trillion to 10 trillion yen.
Prime Minister Shinzo Abe is expected to instruct his government in mid-May to draw up the budget, aiming to have it enacted by the end of the Diet session on June 17, the sources said.
According to a senior LDP member, the government is slated to approve the budget at a cabinet meeting on May 27 and submit it to the Diet on June 8.
The government is expected to set aside 3 trillion to 4 trillion as reserve funds under the budget, the senior member said.
[Copyright The Jiji Press, Ltd.]