Diet debate on inflation-fighting FY 2023 extra budget begins

Japan’s parliament on Monday began deliberations on a 13.20 trillion yen ($88 billion) extra budget for fiscal 2023 to next March, as the government moves to fund an economy-supporting package that aims to alleviate the burden of rising prices on households. The additional spending will bring the total expenditure for the year to a whopping 127.58 trillion yen, of which a third will be secured by issuing government debt. Debt issuance for the supplementary budget alone is 8.88 trillion yen. Prime Minister Fumio Kishida wants to have the supplementary budget approved by parliament by the end of…

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