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FY2013 supplementary budget passed

February 6, 2014

On February 6, a plenary session of the House of Councillors passed a 5,474.4 billion yen supplementary budget for FY2013.

The supplementary budget will be used to implement the "Economic Measures for Realization of Virtuous Cycles" finalized by the government in December 2013. These measures are aimed not only at mitigating the rush demand and recoil reduction associated with the hike in the consumption tax rate in April 2014 but also at creating an environment that is conducive to economic growth and realizing virtuous cycles.

Programs under the supplement budget will commence in FY2013 so that they expand demand during the first half of FY2014.

Key components include approximately 650 billion yen in support for low-income earners and child-rearing households, 1.4 trillion yen for programs to strengthen competitiveness, and more than 1.9 trillion yen for the Special Account for Reconstruction from the Great East Japan Earthquake.

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