The government submitted to the Diet on the 18th the third supplementary budget for this year, which will bring an additional expenditure of 19,176.1 billion yen, including the cost of implementing measures to prevent infection with the new coronavirus and economic measures.
The government officially approved the third supplementary budget for this year and submitted it to the ordinary Diet session convened on the 18th.
The supplementary budget includes the cost of implementing economic measures that totaled about 73 trillion yen in the business scale compiled last month.
The main measures are:
▽ The cost of increasing the "emergency comprehensive support grant" to strengthen the system for providing medical care, such as securing beds and accommodation facilities, is 1,301.1 billion yen.
▽ A maximum of 100 million yen for capital investment for mid-sized companies and SMEs to convert their businesses toward post-corona. The cost is 1,148.5 billion yen.
In addition,
▽ 2,260.4 billion yen is included as expenses for countermeasures against intensifying storms and floods, huge earthquakes, and measures against aging infrastructure.
As a result, the additional expenditure will be 19,176.1 billion yen, and the government plans to establish it by the end of this month.
In line with this, the government plans to issue deficit-financing bonds in order to secure the necessary financial resources, and the amount of new government bonds issued this year is expected to exceed 100 trillion yen for the first time at 112,553.9 billion yen.
Looking at the overall budget for this year, it will be the worst situation ever to rely on government bonds for more than 64% of revenue.