Skip to Content

Speech on Fiscal Policy by Minister of Finance Aso at the 190th Session of the National Diet

May 13, 2016

In order to take the necessary fiscal measures in response to the 2016 Kumamoto Earthquake, we have decided to submit the draft supplementary budget for FY2016. Before requesting deliberation on it, I would like to provide the outline.

(Opening remarks)

First, I would like to offer my deepest condolences to the victims who died due to the earthquake and their bereaved families, and express my sincerest sympathy to people affected by the disaster.
The government has so far made all-out efforts to search, rescue and support people affected by the earthquake. The government will continue to mobilize all available resources to support disaster-affected people, and restore and reconstruct the disaster-hit areas.

(Summary of the FY2016 supplementary budget)

From this viewpoint, this supplementary budget is designed to allow the government to cope with the disaster more flexibly.
With regard to the supplementary general account budget, we have allocated around 80 billion yen for “Expenses related to the support for disaster victims”, for example, providing houses and assistance to promote reconstruction of the livelihoods of disaster victims. In addition, we have allocated 700 billion yen for “Reserve fund to recover from the Kumamoto earthquake”, to prepare for the future disbursement such as reconstructing businesses, restoring infrastructures and clearing debris so as to advance the recovery more promptly.
At the same time, the supplementary budget reduces expenditure for national debt service by about 780 billion yen. As a result, the total general account budget for FY2016 will remain unchanged, from about 96.72 trillion yen before the supplementary budget.
Necessary supplementary measures are also planned for the special account budget. 

(Concluding remarks)

This concludes my explanation of the outline of the draft supplementary budget for FY2016.
I hereby request that the Diet deliberate on this supplementary budget and promptly give its approval.