Japan has set aside $92 billion in emergency budget reserves to prepare for a 'protracted war' against the novel coronavirus, Finance Minister Taro Aso said on Monday, detailing some spending from the massive pool of money seen by some as opaque.
TOKYO - Japan has set aside $92 billion in emergency budget reserves to prepare for a “protracted war” against the novel coronavirus, Finance Minister Taro Aso said on Monday, detailing some spending from the massive pool of money seen by some as opaque.
“While setting eyes on a protracted war, we must take all possible measures and top up emergency reserves in order to flexibly respond to changes in the situation,” Aso said. Unlike other budget items which require prior scrutiny by lawmakers, the law stipulates emergency reserves can be spent without prescreening, allowing the government to meet spending needs flexibly in the event of disasters and contingencies.
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