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Japan Holds Off on Extra Budget for Fiscal 2025 Amid U.S. Tariff Cloud
(MENAFN) Japan is expected to refrain from presenting a supplementary budget for fiscal 2025 aimed at funding stimulus measures to combat escalating prices and U.S. tariffs during the ongoing parliamentary session, according to a media report on Tuesday.
Instead, the government plans to utilize reserve funds from the original budget for the fiscal year, which runs until March 2026, to support anti-inflation efforts, including subsidies for electricity and gas, as indicated by sources familiar with the matter.
Initially, discussions regarding the supplementary budget were anticipated to begin this month among the government and ruling parties. However, they have opted to postpone these talks until the effects of U.S. tariff policies become more apparent, as these policies have already undergone several changes, the report noted.
A senior official from the ruling Liberal Democratic Party remarked on Tuesday that it is improbable the supplementary budget will be submitted before the current Diet session wraps up on June 22, due to the prevailing uncertainty surrounding U.S. tariffs.
Instead, the government plans to utilize reserve funds from the original budget for the fiscal year, which runs until March 2026, to support anti-inflation efforts, including subsidies for electricity and gas, as indicated by sources familiar with the matter.
Initially, discussions regarding the supplementary budget were anticipated to begin this month among the government and ruling parties. However, they have opted to postpone these talks until the effects of U.S. tariff policies become more apparent, as these policies have already undergone several changes, the report noted.
A senior official from the ruling Liberal Democratic Party remarked on Tuesday that it is improbable the supplementary budget will be submitted before the current Diet session wraps up on June 22, due to the prevailing uncertainty surrounding U.S. tariffs.
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