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Tax & Spend

Kishida’s Cabinet Approves Japan’s $198 Billion Extra Budget

  • Measures include fighting inflation and supporting wage hikes
  • 22.9 trillion yen of bond issuance to help fund spending plan
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Japan’s cabinet approved a 29.1 trillion yen ($198 billion) extra budget to fund an economic stimulus package that aims to ease the impact of inflation on people and companies. 

The second supplementary budget for the year ending in March will be partly funded by 22.9 trillion yen of government bond issuance, according to the finance ministry Tuesday. The latest plan adds to the nation’s already ballooning debt burden.