Japan to Enact FY 2020 3rd Extra Budget on Thurs.

Politics

Tokyo, Jan. 26 (Jiji Press)--The Diet, Japan's parliament, is set to enact on Thursday the government's fiscal 2020 third supplementary budget, featuring funds for steps against the novel coronavirus and economic stimulus measures envisaging the post-pandemic era.

The extra budget was approved at a plenary meeting of the House of Representatives, the lower chamber of the Diet, on Tuesday night by a majority vote with support from the ruling Liberal Democratic Party, its coalition partner Komeito and others including Nippon Ishin no Kai (Japan Innovation Party).

It is expected to clear the House of Councillors, the upper chamber, on Thursday. The ruling and opposition blocs have agreed to put the third extra budget to vote after holding debates at the Upper House Budget Committee on Wednesday and Thursday with participation by Prime Minister Yoshihide Suga and all ministers of his cabinet.

Under the extra budget, general-account spending will total 21,835.3 billion yen, including 19,176.1 billion yen for the economic measures. It will cover costs to support medical institutions, develop coronavirus vaccination systems and make the nation resilient to natural disasters.

The Lower House approval came after the supplementary budget was endorsed by the chamber's Budget Committee earlier on Tuesday.

[Copyright The Jiji Press, Ltd.]

Jiji Press