Japan's third extra budget to total more than 20t yen: newspaper

[TOKYO] Japan's third extra budget is likely to exceed 20 trillion yen (S$255.3 billion), the Sankei newspaper reported on Tuesday, adding the government would finalise the size of the stimulus in early December.

The ruling Liberal Democratic Party's (LDP) policy research council chief, Hakubun Shimomura, said earlier this month the third supplementary budget, aimed at revitalising the coronavirus-hit economy, may be bigger than 15 trillion yen, while party lawmakers have called for as much as 40 trillion yen.

Prime Minister Yoshihide Suga has instructed his cabinet to compile the stimulus package on Nov 27 to boost productivity through digitalisation and cut greenhouse gas emissions.

Japan has already announced US$2.2 trillion across two stimulus packages to respond to the coronavirus pandemic, including cash payments to households and small business loans.

REUTERS

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