Japan Eyes 13.9-T.-Yen Extra Budget to Fund Economic Package

Tokyo, Nov. 21 (Jiji Press)--The Japanese government is considering compiling a fiscal 2024 supplementary budget with around 13.9 trillion yen in general-account expenditure to fund its envisioned comprehensive economic package, it was learned Thursday.

The overall size of the economic package, including spending by the private sector, is seen reaching around 39 trillion yen.

The package, which will feature additional measures to deal with soaring prices and finance reconstruction programs in areas devastated the Jan. 1 Noto Peninsula earthquake in central Japan, is expected to be adopted at a cabinet meeting Friday.

Both the scale of the extra budget and the overall size of the package will likely be larger than for last year's economy-boosting measures.

The government will spend 5.8 trillion yen for spurring growth of the Japanese and regional economies, 3.4 trillion yen for overcoming high prices and 4.8 trillion yen for ensuring the safety and security of the public, including disaster countermeasures.

[Copyright The Jiji Press, Ltd.]