Japan extra budget for stimulus package to exceed $198 bln -NHK (updated)
27/10/2022 24:07
(Adds details from report, background)
TOKYO, Oct 27 (Reuters) - Japan's upcoming economic
stimulus package is expected to entail an extra budget of more
than 29 trillion yen ($198 billion), far exceeding a previous
estimate, national broadcaster NHK reported on Thursday.
Only a day earlier, Japanese media had reported that the
government was set to spend about 25 trillion yen on the
stimulus package, aimed at easing the pain from rising energy
and other living costs.
Lawmakers from the ruling Liberal Democratic Party objected
to the lower estimate, prompting Prime Minister Fumio Kishida
and Finance Minister Shunichi Suzuki to meet on Wednesday
evening to review the plan, NHK reported.
The massive spending, which is likely to be finalised on
Friday, is expected to be partially funded by additional debt
issuance in a move that would increase Japan's already huge debt
pile.
($1 = 146.3200 yen)
(Reporting by Mariko Katsumura and Chang-Ran Kim; Editing by
Stephen Coates)
((Mariko.Katsumura@thomsonreuters.com))