Japan Govt Adopts 28.9-T.-Yen Draft Extra Budget

Tokyo, Nov. 8 (Jiji Press)--The Japanese government Tuesday approved a draft fiscal 2022 second supplementary budget with general-account spending of 28,922.2 billion yen to finance a comprehensive economic package for combating soaring prices.

A total of 29,086.1 billion yen will be secured for the economic package, adopted late last month, under the second extra budget when other relevant expenditures are taken into account.

While existing budgetary allocations will be trimmed by over 1 trillion yen, the new budget would boost the government's overall spending in the year through next March to 139,219.6 billion yen.

The government plans to submit the draft extra budget to the current session of the Diet, the country's parliament, set to end on Dec. 10.

While expecting its tax revenue to rise 3,124 billion yen from its previous forecast, the government plans to issue 22,852 billion yen in additional government bonds to help finance the economic package.

[Copyright The Jiji Press, Ltd.]