Finance
Japan Needs New Green Fund in Extra Budget, Suga Adviser Says
- Real budget size likely 15 trillion yen, says Daiwa’s Kumagai
- Up to 10 trillion yen fund should invest in digitalization too
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Japan needs to set up a fund of up to 10 trillion yen ($96 billion) to invest in a green and digital transformation of society that is a key goal for Prime Minister Yoshihide Suga, according to one of the premier’s advisers.
“Creating this will be a major part of the upcoming extra budget,” said Mitsumaru Kumagai, chief economist at Daiwa Institute of Research Ltd. in an interview. The third additional budget this year is likely to contain overall real spending of around 15 trillion yen, added Kumagai, who was appointed as one of six new advisers to Suga last month.