November 28, 2024, 15:50 JST (excerpt)
Excess tax revenue to be used as a funding source is 3.8 trillion yen, including non-tax revenues and surplus from the previous fiscal year.
Out of the total of 13.9 trillion yen, approximately half relies on government bonds, posing a challenge to fiscal health.
The supplementary budget for the fiscal year 2024, which underpins the government's comprehensive economic measures, is expected to have a total general account amount of 13 trillion 943.3 billion yen. It will allocate excess tax revenue, expected to reach a record high, among other sources, but any shortfall will be covered by issuing an additional 6.69 trillion yen in new government bonds, as revealed by multiple sources.
The government plans to decide on the supplementary budget proposal on the 29th and submit it to the extraordinary session of the National Diet. It aims for early enactment by the end of the year. The total cost of economic measures is budgeted at 13 trillion 931 billion yen, with a reduction of 1 trillion 630.3 billion yen in set expenses. On the revenue side, in addition to the issuance of additional government bonds, it will make use of an expected 3.827 trillion yen surplus in tax revenue, along with 1.866.8 billion yen in non-tax revenue and 1.559.5 billion yen surplus from the previous fiscal year.