Japan’s Stimulus Reportedly Adding $192 Billion to Debt Pile
- Big borrowing plan comes even with economy seen rebounding
- Analysts see next year’s election as a motivating factor
Fumio Kishida
Photographer: Rodrigo Reyes-Marin/Zuma PressThis article is for subscribers only.
Japan plans to issue $22.1 trillion yen ($192 billion) in bonds to help pay for another extra budget in the pandemic, as Prime Minister Fumio Kishida looks to shore up the recovery before next year’s elections, the Nikkei newspaper reported Wednesday.
Some 6 trillion yen carried over from previous stimulus and another roughly 6 trillion yen in unexpected tax revenue weren’t enough to cover the general expenditures of a 36 trillion yen extra budget put together to finance Kishida’s stimulus plan, the Nikkei said, without identifying where it got the information.