On 21 January, it was learned that the Japanese Government and the ruling party have entered into coordination to inject more than 20 trillion yen in Japanese government funds into comprehensive economic measures, with a focus on measures to combat price hikes. The government plans to submit a second supplementary budget for FY2022 to the extraordinary Diet session after a Cabinet decision on 28 June.
The scale of the project, including expenditure by local governments and businesses, is expected to grow further. The government will secure several trillion yen in funding for the national budget by using the leftover funds from the FY21 budget and a rise in tax revenues in FY22, but the majority of this will be covered by borrowing through the issue of deficit-covering government bonds.
Source: https://news.yahoo.co.jp/articles/7be3bfc1b65e3ff829b19c3f6aa52202539a0f9d
Source 2: https://www.tokyo-np.co.jp/article/209429
Comment section: https://news.yahoo.co.jp/articles/7be3bfc1b65e3ff829b19c3f6aa52202539a0f9d/comments
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