Japanese Finance Minister Taro Aso is on the wires now, via Reuters, commenting on the additional budget spending approved by the Cabinet earlier today.
Key Points:
Extra FY2018 and FY2019 budgets passed cabinet.
Includes measures to support the sales tax hike planned for October 2019.
The planned reduction in JGB issuance is a positive.
Govt managed to meet needs of both econ growth and fiscal reform in FY 2019/20 budget.
Japan economy’s favorable cycle remains intact.
Must proceed with sales tax hike next year.
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