"Japanese Government to Promote 3rd Supplementary Budget for COVID-19 Response... Aiming for Investment and Job Creation"

[Asia Economy Reporter Jeong Hyunjin] The Japanese government has solidified its plan to formulate a third supplementary budget to respond to the novel coronavirus infection (COVID-19), Yomiuri Shimbun reported on the 14th.

Yomiuri cited multiple sources from the Japanese government and ruling party, stating that the government is expected to prepare the supplementary budget focusing on economic measures that can stimulate consumption and create employment. The scale will be decided later considering the economic situation.

The Japanese government is expected to prioritize COVID-19 response with contingency funds while using the third supplementary budget for economic stimulus. Prime Minister Yoshihide Suga emphasized at the time of his inauguration that the goal is to balance preventing the spread of COVID-19 infections and boosting the economy.

The third supplementary budget will include investments aimed at building a digital society and financial support aimed at creating new employment. It will also reflect measures to newly establish a supply chain for medical supplies, expand infertility treatment cost support systems in response to low birth rates, and support the tourism industry such as the "Go To Travel" campaign.

Along with this, the Japanese government is also considering extending the period of the Go To Travel policy, which is scheduled to end in January next year, taking into account requests from the Liberal Democratic Party. The Japanese government is expected to formally decide on the third supplementary budget plan in December this year and submit it to the regular Diet session convening in January next year. The fiscal year runs from April to March of the following year.

This content was produced with the assistance of AI translation services.