Tokyo readying second coronavirus budget – report

The Japanese government is preparing a second supplementary budget that will be used to fund relief measures for the economy that hit hard by the coronavirus-caused crisis, Nikkei reported.

Japan previously passed a $240 billion spending plan at the end of April. Media reported the government was also preparing a joint public-private fund that would provide financial support to small and medium-sized businesses.

The supplementary budget is expected to be passed by mid-June.

Breaking the News / MD