Japan Government Passes Over 3 Trillion Yen Supplementary Budget to Address Middle East Situation
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The Japanese government approved a supplementary budget totaling 3.1135 trillion yen at a cabinet meeting on June 3 to address the Middle East situation. The budget allocates 2.5 trillion yen for contingency reserves related to the Middle East. Funding will be entirely covered by issuing deficit bonds, but the government claims the total issuance amount will remain unchanged. Analysts warn this could push Japan's primary balance back into deficit.