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Japan gov’t to compile big extra budget after polls, says LDP heavyweight By Reuters

© Reuters. FILEPHOTO: Akira amari, Japan’s Economy Minister speaks during a Tokyo press conference, Japan on January 28, 2016. REUTERS/Yuya Shino

TOKYO, Reuters – Japan will immediately prepare a large supplementary budget to alleviate pandemic pains and support long-term growth areas like green, digital, and infrastructure. This was a statement by a leading party weight on Sunday.

You must start with vaccinations. This is the strongest coronavirus treatment,” Akira Amari said, the newly-appointed secretary general of the Liberal Democratic Party.

Amari stated that Japan should increase the vaccine rate by around 60% to 70% or 80%. This would ease anxiety and reduce fear among the general population.

We have taken various actions to tap emergency budget reserve funds. We will immediately compile an enormous extra budget after the election because our reserves are running out.

Fumio Kirishida, Japan’s next prime Minister, might have no choice but to issue more bonds government to help fund the pandemic relief package he claimed would cost hundreds of billions.

Kishida (a former foreign minister) won the LDP’s leadership election on Wednesday. The party’s overwhelming majority in the lower house means that Kishida will be taking over Yoshihide Sug as premier on Monday.

Kishida will be officially elected prime minister on Monday when parliament meets. He is expected to announce later in the day a cabinet reshuffle.

Amari, an ex-economy minister who was seen as a crucial ally for Japan’s longest-serving premier Shinzo abe, was named secretary-general Friday.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.