Prime Minister Yoshihide Suga on Tuesday instructed Cabinet ministers to compile a third supplementary budget for fiscal 2020 to finance a fresh economic stimulus package to support the economy, which has been hit by the novel coronavirus pandemic.
The extra budget for the year through March will fund a likely extension of the government's Go To Travel subsidy campaign beyond late January to continue underpinning the tourism sector while stimulating consumption and steps to help businesses maintain employment, according to government sources.
Some lawmakers of the ruling Liberal Democratic Party and its junior coalition partner Komeito have said the upcoming budget will be in the region of ¥10 trillion to ¥15 trillion.