Japan gov't submits extra budget for virus rescue package

The Japanese government on Monday submitted to parliament a 25.69 trillion yen ($240 billion) reworked supplementary budget to fund a package of emergency measures aimed at mitigating the economic fallout from the coronavirus pandemic.The draft budget, approved by the Cabinet on April 20, was boosted from the original 16.81 trillion yen due to a sudden policy shift by Prime Minister Shinzo Abe to provide 100,000 yen to all residents instead of a plan to give 300,000 yen to households whose income had fallen sharply.The extra budget for fiscal 2020 is expected to be approved by the House of …READ FULL ARTICLE