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Japan PM Suga to issue instruction Nov. 10 for extra budget compilation

Japanese Prime Minister Yoshihide Suga speaks at a House of Councillors plenary session in Tokyo on Oct. 30, 2020. (Kyodo)

TOKYO (Kyodo) -- Prime Minister Yoshihide Suga is likely to instruct Cabinet ministers on Nov. 10 to compile a third extra budget for fiscal 2020 to support the economy hit by the coronavirus pandemic, with its size possibly exceeding 10 trillion yen ($9.6 billion), a senior ruling party lawmaker said Friday.

    The supplementary budget for the year through March will finance a planned extension of the government's domestic travel subsidy program and measures to support the labor market, the Liberal Democratic Party official said.

    The budget will also provide funding to promote companies' digitalization and investment to strengthen supply chains, improve the country's disaster preparedness and increase financial support for people receiving fertility treatment.

    The Diet has already passed two supplementary budgets totaling about 58 trillion yen for the current fiscal year.

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