Japan to Compile 3rd Extra Budget for FY 2020

Politics

Tokyo, Oct. 13 (Jiji Press)--Japan's government and ruling camp are considering compiling a third supplementary budget for fiscal 2020 to launch additional economic stimulus measures amid the coronavirus crisis, informed sources said Tuesday.

The government is expected to draft the budget by year-end and submit it to next year's ordinary session of the Diet, the country's parliament, the sources said.

The budget is seen featuring economic and job measures as many industries have been hit hard by the COVID-19 crisis.

Prime Minister Yoshihide Suga is expected to give specific instructions on stimulus measures after assessing economic conditions.

"Stock prices are solid, but there are concerns over the employment situation and some industrial sectors," a senior government official said.

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Jiji Press