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SUBJECT [June 11] Parliaments approve extra budget and bond for COVID-19 solution
DATE 2020-06-11
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Photo: Japantimes. Japanese Prime Minister Shinzo Abe bows after the approval of a draft second supplementary budget during a Lower House plenary session (RIGHT)

Photo: ADN. Albanian Parliament approves Eurobond issue (LEFT)

 

On June 10, Japan’s House of Representatives has approved the second extra budget plan for fiscal year 2020. The draft, submitted to the House on June 8, reached ¥31.91 trillion. The additional budget, along with loans and investment to revitalize the economy, is worth about ¥117 trillion. The package will aid small firms that had gone through economic loss since stay-at-home request in April, support medical workers battling the virus in the front-line, and solve the problems of citizens who suffer from the economic damage.

 

On June 4, the Parliament of Albania gave a green light to issuing a €650 million Eurobond to alleviate the domestic situation. The bill was originally submitted by the Ministry of Finance and Economy, with a plan to issue the bond with a maturity of 7 to 10 years. Minister of Finance and Economy Anila Denaj said that this is the most opportune time to issue the Eurobond, "as the financial markets are showing stability after the high volatility encountered after the spread of COVID-19."

 

 

[Sources]

huaxia. (2020, June 5). Albanian parliament OKs 650-mln-euro Eurobond. Retrieved from http://www.xinhuanet.com/english/2020-06/05/c_139114868.htm.

 

Submission, I. (2020, June 10). Japan's Lower House passes second extra budget for coronavirus package. The Japan Times. Retrieved from https://www.japantimes.co.jp/news/2020/06/10/national/second-coronavirus-package/.

 

Submission, I. (2020, June 8). Japan's government submits record extra budget to Diet for virus relief. The Japan Times. Retrieved from https://www.japantimes.co.jp/news/2020/06/08/national/politics-diplomacy/coronavirus-supplementary-budget/.

 

 

BY MSEAP Cyber Secretariat (mseap@assembly.go.kr)