Japan's 2nd Extra Budget for FY 2022 to Total 29.1 T. Yen

Politics

Tokyo, Oct. 27 (Jiji Press)--The Japanese government's second supplementary budget for fiscal 2022, to be compiled for a comprehensive economic package, will total around 29.1 trillion yen, it was learned Thursday.

The government will make a decision on the matter at a cabinet meeting on Friday.

Overall fiscal spending for the package, including fiscal investment and lending, as well as spending by local governments, is expected to reach 39 trillion yen.

Furthermore, total spending, including private-sector expenses, is seen coming to around 71.6 trillion yen.

The economic package will have four pillars, and the government plans to use some 12.2 trillion yen for measures to tackle rising prices and raise wages, 4.8 trillion yen for those to strengthen regional economies by leveraging the yen's weakness, 6.7 trillion yen for the "new capitalism" initiative and 10.6 trillion yen for enhancing disaster resilience and responding to the changing security environment.

[Copyright The Jiji Press, Ltd.]

Jiji Press