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Kishida Talks Down Prospect Of Extra Budget, Speaks On China Relations

JAPAN

Prime Minister Fumio Kishida has claimed that he is not considering compiling an extra budget, adding that the judgement of whether one is required would need to 'take into account [the] effect of steps taken already as well as global energy moves'. In the spring the Diet passed a record JPY114.4trn (USD893.3bn) budget that saw spending on social care and defence provision rising significantly, but earlier in the montha draft mid-year policy framework document indicated that 'crisis-time fiscal spending' from the pandemic era should not be normalised.

  • On geopolitics: 'Stable relations between the US and China are important for global stability...[we] would like to maintain that positive momentum while also saying what needs to be said to China.'
  • Adds that 'nothing is decided' on a potential visit to China, saying he 'Would like to consider whether I will visit China based on [the] understanding that communication on all levels are important.' Kishida: 'Our stance is that we will continue to seek [a] China [that] acts responsibly as a major country.'
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskBank of Japan (BOJ) Market NewsPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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