(Update) 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. It 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. Fiscal spending, also including outlays other than the central government's general-account expenditure, is expected to total about 21.9 trillion yen.
   The package will feature a plan to provide low-income households exempted from residential tax payments with 30,000 yen each and an additional 20,000 yen per child, in order to help them cushion the impact of soaring prices, informed sources said.
   As a measure to tackle surging energy prices, subsidies will be offered to lower electricity and gas bills for January-March next year. The current gasoline subsidy program, now scheduled to expire at the end of next month, will be extended while the amount of aid is set to be reduced.

(2024/11/21-13:38)

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