The Cabinet approved the budget proposal for the new fiscal year and fiscal 2024 approved last month after increasing the reserve fund from 5000 billion yen to 1 trillion yen in order to seamlessly respond to the Noto Peninsula earthquake.
Last month, the Cabinet approved a budget proposal for the new fiscal year with a total of 112.717 trillion yen in the general account.
However, in order to seamlessly respond to the recovery and reconstruction of the affected areas in the wake of the Noto Peninsula earthquake on the 1st of this month, the Cabinet approved the plan again on the 5000th after increasing the reserve fund from 1 billion yen to 16 trillion yen.
As a result, the total amount of the general account will be 112,5717.5000 billion yen.
Since there is no change in the outlook for tax revenues and the increase will be covered by government bonds, the amount of new government bonds issued in the new fiscal year's budget proposal will increase by 35 billion yen from the time of last month's decision to 4490.47 trillion yen.
The government has already decided to spend more than 1000.<> billion yen in contingency funds for this fiscal year for push-type support for supplies, and is coordinating to spend more than <> billion yen for the implementation of a support package for the reconstruction of the lives of those affected by the disaster.
Finance Minister Suzuki: "We can respond flexibly and flexibly"
Regarding the increase in the contingency fund from 5000 billion yen to 1 trillion yen in the budget proposal for the new fiscal year, Finance Minister Suzuki said at a press conference after the extraordinary Cabinet meeting, "I recognize that the contingency budget of 1 trillion yen is a considerable amount, and I believe that by utilizing it, we will be able to respond seamlessly, flexibly, and flexibly."