Economics
Japan’s Suga Orders Third Extra Budget as Virus Impact Drags
- Government spokesman declines comment on likely size
- Economists expect more targeted spending to fuel recovery
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Japan’s Prime Minister Yoshihide Suga ordered the putting together of a third extra budget Tuesday, amid concern the economy’s recovery from a pandemic-triggered recession may lose steam.
The long expected official call for new spending comes as fresh waves of the virus hit key trade partners adding to uncertainty over the outlook. The consumer spending boost from the government’s earlier cash handouts to households is also seen as running out, while funding for a job furlough program has largely been used up.