Japan OKs extra budget to spend record 175 tril. yen in FY 2020 amid COVID

Japan's Cabinet approved a 21.84 trillion yen ($210 billion) extra budget on Tuesday, bringing its total spending for fiscal 2020 to a record high of 175.69 trillion yen, as it grapples to ensure the coronavirus-stricken economy stays on a recovery track.The third supplementary budget for the financial year through March, earmarking 19.18 trillion yen to finance additional economic measures, entails new government bond issuance worth 22.40 trillion yen.As a result, Japan's total new debt issuance for the year is set to also hit an all-time high of over 112.55 trillion yen, more than double …READ FULL ARTICLE