Japan government approves $92 bn extra budget

Tokyo: Japan s unpopular minority government approved on Friday an extra budget to help pay for a massive stimulus package after the ruling coalition...

Tokyo: Japan's unpopular minority government approved on Friday an extra budget to help pay for a massive stimulus package after the ruling coalition's worst election result in 15 years.

The hoped-for lift to the economy is also aimed at boosting Prime Minister Shigeru Ishiba's popularity after a gaffe-riddled start.

The extra budget approved by the cabinet is worth 13.9 trillion yen ($92 billion) and is expected to be approved in parliament by the end of the year.

It will be partly funded by issuing bonds worth over 6.6 trillion yen.

It includes 1.5 trillion yen to boost Japan's chip and AI sectors, part of a 10-trillion-yen push over the coming years previously announced.