Japan to Prioritize Economic Recovery under FY 2022 Budget

Politics

Tokyo, Nov. 29 (Jiji Press)--The Japanese government has drafted a basic policy on drawing up its fiscal 2022 budget, prioritizing economic recovery from the novel coronavirus crisis over fiscal reconstruction, it was learned on Monday.

In the draft budget policy, the government says it will "take necessary fiscal measures to deal with the crisis without hesitation."

The budget policy, the first since Prime Minister Fumio Kishida took office in October, will be adopted at a cabinet meeting in early December.

An earlier draft of the budget policy, presented to the ruling Liberal Democratic Party, said that the government would "promote a thorough review of all aspects of spending without sanctuary in the light of the severe fiscal situation," suggesting its intention to continue working on spending reform as before.

However, the initial draft met a wave of opposition from LDP lawmakers, who said it differed from the stance of the Kishida administration, leading to the removal of words indicating the government's emphasis on fiscal rebuilding.

[Copyright The Jiji Press, Ltd.]

Jiji Press