Japan's Prime Minister Shinzo Abe (R) walks past Japan's Emperor Akihito (L) and Empress Michiko during a memorial service ceremony marking the 70th anniversary of Japan's surrender in World War Two at Budokan Hall in Tokyo, Japan August 15, 2015. REUTERS/Toru Hanai/FIle Photo

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Monday that the government will compile an extra budget plan and submit it to an extraordinary parliament session in autumn.

Abe’s cabinet last week approved 13.5 trillion yen ($132 billion) in fiscal measures to help revive the flagging economy.

Japan’s Prime Minister Shinzo Abe (R) walks past Japan’s Emperor Akihito (L) and Empress Michiko during a memorial service ceremony marking the 70th anniversary of Japan’s surrender in World War Two at Budokan Hall in Tokyo, Japan August 15, 2015. REUTERS/Toru Hanai/FIle Photo

The government’s package includes 7.5 trillion yen in spending by the national and local governments, part of which is expected to be funded by an extra budget this fiscal year.

(Reporting by Takashi Umekawa; Writing by Kaori Kaneko; Editing by Sam Holmes)

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Leave a comment

Your email address will not be published. Required fields are marked *