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Japan to spend $313 billion in extra budget as tax income overshoots

Japan to spend $313 billion in extra budget as tax income overshoots

ECONOMIC NEWS

Japan to spend $313 billion in extra budget as tax income overshoots

© Reuters. Light is cast on a Japanese 10,000 yen note as it’s reflected in a plastic board in Tokyo, in this February 28, 2013 picture illustration. REUTERS/Shohei Miyano/File Photo

TOKYO (Reuters) – Japan’s government is set to compile an extra budget for this fiscal year featuring spending worth 36 trillion yen ($313 billion), with additional new bond issuance at 22.1 trillion yen, a draft of documents seen by Reuters showed on Wednesday.
Tax revenue would exceed initial estimates by 6.4 trillion yen in a sign the Japanese economy has weathered the fallout from the COVID-19 pandemic better than earlier thought, the draft of an extra budget due to be crafted on Friday showed. ($1 = 114.8400 yen)
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