The Japanese government submitted a draft supplementary budget for fiscal 2025 to parliament on Monday. Valued at ¥18.3 trillion ($118 billion) in general account spending, it mainly finances the first comprehensive economic package under Prime Minister Sanae Takaichi's administration. The package focuses on easing the impact of rising prices and investing in growth sectors.
The Japanese government submitted its fiscal 2025 draft supplementary budget to parliament on Monday, totaling ¥18.3 trillion ($118 billion) in general account spending. This marks a sharp increase from the ¥13.9 trillion extra budget of the previous fiscal year and primarily funds the first comprehensive economic package under the administration of recently elected Prime Minister Sanae Takaichi.
The package will center on measures to ease the impact of rising prices, alongside investments in growth sectors. The Budget Committee of the House of Representatives is scheduled to discuss the proposal on Tuesday and Wednesday. The government targets passage during the current parliamentary session, which concludes on December 17.
This supplementary budget underscores the new administration's focus on addressing economic pressures promptly. By expanding the fiscal support, it aims to stabilize living costs and foster growth in key areas.