Prime Minister Suga To the instruction to formulate a supplementary budget that includes additional economic measures November 10, 5:45
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Prime Minister Suga included additional economic measures at a cabinet meeting on the 10th in order to ensure the economic recovery while striving to achieve both socio-economic activities and thorough measures to prevent the infection of the new coronavirus. We will instruct the formulation of the third supplementary budget for this year.
Regarding the economic situation, at the Council on Economic and Fiscal Policy on the 9th, due to the influence of the spread of the new coronavirus infection, both private demand and external demand are still lacking in strength, and the infection is re-spread mainly in Europe and the United States. It was pointed out that the future is increasing uncertainty.
In light of these circumstances, Prime Minister Suga will incorporate additional economic measures at a cabinet meeting on the 10th in order to ensure the recovery of the economy while striving to achieve both thorough infection prevention measures and socio-economic activities. However, I will instruct the formulation of the third supplementary budget for this year.
In addition to measures to prevent the spread of infection, economic measures include support for companies that maintain employment and people in new occupations, as well as social and economic changes such as digitization and reduction of greenhouse gases. It is expected that measures and efforts to promote national resilience will be included.
The government is now working on the third supplementary budget for this year and the budget for next year in parallel, incorporating additional economic measures into the two budgets, making it a so-called "15-month budget". We would like to take measures seamlessly from the next fiscal year to the next fiscal year.