Japan FY 2025 Extra Budget to Total 18.3 T. Yen

Tokyo, Nov. 27 (Jiji Press)–The Japanese government’s upcoming supplementary budget for fiscal 2025 will total 18,303.4 billion yen, a record high excluding the COVID-19 pandemic years of fiscal 2020 to 2022, it was learned Thursday. The government will approve an extra budget bill at a cabinet meeting on Friday and submit it during the ongoing extraordinary Diet session. It aims to enact it by the end of the year. The extra budget will finance an economic package recently adopted under Prime Minister Sanae Takaichi, which includes measures to combat inflation. The total amount of general-account spending under the budget will far surpass the 13,943.3 billion yen under the fiscal 2024 extra budget. To partially fund the upcoming budget, the government plans to use 2,879 billion yen in additional tax revenue and sell an additional 11,696 billion yen in government bonds. The budget will include 8,904.1 billion yen for measures to boost people’s security and mitigate the impact of inflation, a priority for the Takaichi administration, 6,433 billion yen to achieve a strong economy through crisis management investment and growth investment and 1,656 billion yen to bolster defense and diplomacy. END [Copyright The Jiji Press, Ltd.]