Japan's Abe Orders 2nd Extra Budget to Fight Virus Crisis

Politics

Tokyo, May 14 (Jiji Press)--Japanese Prime Minister Shinzo Abe instructed Thursday the government and the ruling camp to compile a second fiscal 2020 supplementary budget in response to the spread of the new coronavirus.

Under the budget, the Abe administration aims to double the maximum amount of employment adjustment subsidies to businesses that put workers on paid leave amid the coronavirus crisis.

The budget is also expected to include financial support measures for midsize and large companies suffering from rapid earnings deterioration.

The government is expected to decide on the size of the budget around May 27, hoping that it will be enacted during the ongoing parliamentary session, slated to end on June 17.

"Another round of measures is necessary to restore normal life," Abe told a meeting of the government's coronavirus response headquarters.

[Copyright The Jiji Press, Ltd.]

Jiji Press