Japan Emphasizes Economic Recovery in FY 2022 Budget Policy

Politics

Tokyo, Dec. 3 (Jiji Press)--The Japanese government adopted a basic policy on drawing up its fiscal 2022 budget at a cabinet meeting on Friday, clarifying its stance of putting "fiscal health after the economy."

In the budget policy, the government stressed its eagerness to make all-out efforts to tackle the coronavirus pandemic, saying that the government "will take all possible measures without being hesitant on fiscal spending necessary to tackle the crisis."

At a meeting of the Council on Economic and Fiscal Policy prior to the cabinet meeting, Prime Minister Fumio Kishida said the government will compile a fiscal 2021 supplementary budget and the fiscal 2022 budget as a combined "16-month budget" to "carry out appropriate economic and fiscal management seamlessly."

Following the recent discovery of the omicron variant of the coronavirus, the budget policy mentioned growing fears of a resurgence of infections and indicated that the government will closely watch the impact of the new variant on the domestic and overseas economies.

The policy called for conducting border controls while assuming the worst-case scenario.

[Copyright The Jiji Press, Ltd.]

Jiji Press