Japan Cabinet approves 29.1 tril. yen extra budget for econ package

Japan's Cabinet approved Tuesday an extra budget for the current fiscal year to spend 29.09 trillion yen ($199 billion) on an economic package designed to mitigate the pain on households and businesses of rising prices, exacerbated by a weaker yen.To secure the necessary funding, the government will issue bonds worth 22.85 trillion yen, putting fiscal restoration on the backburner further despite its debt already being more than twice the size of its economy.The key feature of the economic package is reducing utility bills for Japanese households. The average household would save around 45,…READ FULL ARTICLE