Prime Minister Fumio Kishida’s Cabinet approved the draft of a ¥36 trillion extra budget on Friday to fund a record economic stimulus package, which includes bolstering medical systems to counter the pandemic and cushion its economic fallout.
The total direct government spending for the stimulus is expected to be ¥55.7 trillion, with the government financing ¥35.98 trillion of it through its supplementary budget for fiscal 2021.
The budget will be deliberated in an extraordinary Diet session expected to convene on Dec. 6 with the ruling coalition aiming to pass it during what has been reported to be a 12-day session in order to swiftly roll out the economic measures.
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