• Kyodo

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Prime Minister Shinzo Abe’s Cabinet on Thursday approved a ¥5.5 trillion supplementary budget for fiscal 2013 to fund a stimulus package designed to minimize the negative impact of next spring’s consumption tax hike.

Vowing to achieve fiscal rehabilitation, the government will not issue additional bonds, because tax revenues this fiscal year through March are likely to be higher than the initial estimate made in January, thanks to the budding economic recovery.

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