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Japan to compile big extra budget for stimulus after summer election

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Kyodo News

Japan is planning to compile a supplementary budget worth more than 10 trillion yen ($77 billion) after this summer’s upper house election to finance measures aimed at stimulating the economy and mitigating the impact of rising prices, government sources said Friday. The government is likely to issue more bonds for the envisaged second extra budget for fiscal 2022 starting in April, according to the sources, which would further deteriorate Japan’s fiscal health. The budget is necessary to implement some of Prime Minister Fumio Kishida’s key economic policies, which his Cabinet is due to approv…

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