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Japan to spend $313 billion in extra budget as tax income overshoots

by Mike Robinson

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© Reuters. This February 28th, 2013 photo illustration shows light reflecting off a Japanese 10,000yen note. REUTERS/Shohei Miyano/File Photo

TOKYO, Reuters – Japan’s government will prepare an additional budget for fiscal year 2019. It includes spending of 36 trillion yen (313 billion dollars), and new bond issuance of 22.1 trillion yen. A draft document seen by Reuters on Wednesday showed this.

In a sign that Japan’s economy is better able to weather the COVID-19 epidemic than originally thought, tax revenues would surpass initial estimates by 6.4 trillion yen. The draft of Friday’s extra budget showed.

($1 = 114.8400 yen)

 

 

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