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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.
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Japan's real GDP declined at an annualized rate of 1.8% in the three months through September, marking the first contraction in six quarters. The drop was less severe than anticipated.