Prime Minister Shinzo Abe's Cabinet approved Thursday a 5.47 trillion yen ($53.2 billion) supplementary budget for fiscal 2013 to fund economic stimulus measures designed to minimize the potential negative impact of a sales tax hike next April.
The stimulus package mapped out last week, centering on prompting new infrastructure investment ahead of the 2020 Tokyo Olympics and post-quake reconstruction work, will be intensively implemented in early fiscal 2014.The extra budget will bring the central government's expenditures in the general account budget for this fiscal year to 98.08 trillion yen, the fourth highest amount ever, underscoring how dependent the Japanese economy has been on massive government spending.
Source: NewsOnJapan
Source: NewsOnJapan
