Japan Cabinet OKs reworked extra budget for $1.1 tril. virus package

Japan's Cabinet on Monday approved a reworked fiscal 2020 supplementary budget to finance universal cash handouts, expanding the size of a record economic package plan to 117.1 trillion yen ($1.1 trillion) aimed at cushioning the fallout from the coronavirus pandemic.In a rare move, the extra budget was reworked and boosted to 25.69 trillion yen from the previously planned 16.8 trillion yen due to a sudden policy shift by the coalition government to provide a cash handout of 100,000 yen per person, including foreign residents.The record spending plan, now expanded from the initial 108.2 tri…READ FULL ARTICLE