New Japanese Prime Minister Fumio Kishida on Friday directed ministers responsible for economic and financial policies to come up with details of an economic package he pledged to implement to help the Japanese economy cope with the repercussions of the COVID-19 pandemic.
Kishida renewed his vision of achieving “new capitalism” that focuses on economic growth and redistribution of wealth, and said in a cabinet meeting, according to the Japanese (Kyodo) news agency, that he plans to submit a supplementary budget draft to Parliament for the fiscal year 2021 to achieve this end after the elections. Parliament scheduled for October 31.
Finance Minister Shunichi Suzuki pledged to work closely with the two ruling parties – the Liberal Democratic Party and its smaller ally Komeito – to develop a “high-quality” budget.
“It is preferable to approve the supplementary budget to Parliament during this year,” Suzuki said.
It is scheduled that the pillars of the economic package include preventing the spread of the Corona virus through the promotion of vaccines and medicines and the resumption of social and economic activities using certificates proving that the vaccine has been received.
To bring about “new capitalism” and achieve growth in the post-pandemic era, Kishida called for focusing the budget on four areas; They are: science and technology, revitalization of regional economies, economic security and child-rearing.
Kishida has already pledged to provide an economic package worth tens of trillions of yen to support the country’s economy and overcome the impact of the epidemic, but he has not yet provided details on its specific content.
The article, the Japanese Prime Minister directs the assembly of a financial package to save the economy from the repercussions of Corona, was written in Al Borsa newspaper.