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Diet approves record extra budget to fund economic package

  • December 21, 2021
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All national dailies wrote that the Diet on Monday approved a record 35.9 trillion yen ($315 billion) supplementary budget for fiscal 2021, including spending for the government’s latest economic package to get the coronavirus pandemic-hit economy back on a solid recovery path. The government will need to issue new bonds worth 22.1 trillion yen ($194 billion) to cover most of the supplementary budget, with the outstanding balance of government bonds expected to top 1,000 trillion yen ($8,789 billion) by the end of the fiscal year in March. As a key policy measure in the stimulus package, 1.2 trillion yen will be used for the government’s program to dispense 100,000 yen in cash and vouchers for children aged 18 or younger in households where the primary earner’s annual income is less than 9.6 million yen.

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