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

Dec 16, 2020 | News On Japan

Dec 16, 2020 (Kyodo) - 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 the previous record of 51.95 trillion yen marked in fiscal 2009 following the global financial crisis.

Together with the two extra budgets, the formulation of the third supplementary budget will increase Japan's total annual spending by more than 70 percent from the initial budget of 102.66 trillion yen, fueling concern over a further deterioration in its fiscal health, the worst among major developed nations.

Source: ANNnewsCH

Typhoons No. 28 and 29 Bring High Waves to Japan's Pacific Coast

Two typhoons moving across the Pacific southeast of Japan are expected to remain well away from the Japanese mainland, but powerful swells could bring rough seas to a wide stretch of the country's Pacific coastline throughout the three-day holiday weekend, according to forecasts updated at 3 a.m. on October 10.

Cyberattacks Spread Across Japan

A series of cyberattacks has disrupted business operations and exposed millions of customer records across Japan, with a ransomware attack on a cloud service provider affecting 495 companies and local governments nationwide, while convenience store operator Lawson has disclosed a separate breach involving more than 2.15 million personal information records.

Japan's First 360-Degree Projection Mapping Opens in Osaka

Japan's first 360-degree projection mapping show will open at the Osaka City Museum of Fine Arts on October 10, transforming the historic building into an immersive world of light, music, and seasonal imagery, with organizers hoping the attraction will also help stimulate the city's nighttime economy.

Tokyo University Professor Wins Nobel Prize in Chemistry

Tokyo University of Science professor emeritus Kenzo Soai has been awarded this year's Nobel Prize in Chemistry together with French chemist Henri B. Kagan for discoveries that transformed scientists' understanding of how chemical reactions can favor one of two mirror-image forms of a molecule.

US Military Halts All Okinawa Operations for 48 Hours

The US military suspended activities by all forces stationed in Okinawa for 48 hours from noon on October 7, an unusual measure following the arrest of a US Marine in connection with a robbery and murder case that has renewed scrutiny of crimes involving American service members.

MEDIA CHANNELS

MORE Society NEWS

Most Sightings of Fugitive Yoichi Hatta Reported in Kanto

Police in Oita Prefecture have revealed that the Kanto region accounts for the largest number of reported sightings of Yoichi Hatta, a fugitive wanted in connection with a fatal hit-and-run incident in Beppu in 2022, with authorities preparing to distribute new wanted posters nationwide from November as the search enters its fifth year.