Japan Govt Submits 13.9-T.-Yen FY 2024 Extra Budget

Tokyo, Dec. 9 (Jiji Press)--The Japanese government submitted to parliament Monday its fiscal 2024 draft supplementary budget with 13,943.3 billion yen in general-account spending.

The budget will finance a comprehensive economic package, the first under Prime Minister Shigeru Ishiba’s administration, including measures to tackle inflation and aid for areas affected by natural disasters in the Noto Peninsula, central Japan. It is larger than the 13,199.2-billion-yen supplementary budget of the previous fiscal year.

The government hopes that the budget will be enacted during the current extraordinary parliamentary session ending on Dec. 21.

“The most important task is to increase wages and incomes now and in the future for all generations,” Ishiba has said.

The ruling coalition of his Liberal Democratic Party and Komeito failed to secure a majority in the recent general election for the House of Representatives, the all-important lower chamber of the country’s parliament. The ruling camp hopes to gain the support of other parties including the Democratic Party for the People to swiftly pass the budget.

[Copyright The Jiji Press, Ltd.]