Japan Govt to Carry Over Record 30 T. Yen in FY 2020 Budget

Politics

Tokyo, July 26 (Jiji Press)--The Japanese government is expected to carry over into fiscal 2021 a record 30 trillion yen in general-account budget funds for fiscal 2020 due to delays in spending, it was learned on Monday.

The amount equals about 40 pct of the 73 trillion yen that the government earmarked under its three supplementary budgets for fiscal 2020, which ended in March this year, to tackle the novel coronavirus crisis.

The carryover comes after coronavirus relief for eateries meeting requests for shorter business hours were not provided smoothly, and the Go To Travel domestic tourism promotion campaign was suspended due to the spread of infections.

A large amount of budgeted funds will be carried over for grants offered to hospitals accepting coronavirus patients and companies reforming their business models.

Also, budgets for some public works projects were not used on schedule.

[Copyright The Jiji Press, Ltd.]

Jiji Press