Sources: Japan Govt to earmark $40 billion to boost growth in FY2020/21 budget - Reuters

Japanese government sources with knowledge of the matter told Reuters on Tuesday, Japan will earmark 4.4 trillion yen ($40.52 billion) in the 2020 fiscal year’s budget for measures to boost private demand as well as enhance science and technology as part of Prime Minister Shinzo Abe’s growth strategy.

Additional Details:

“The government will urge ministries to trim spending in other areas such as public works by 10 percent from this fiscal year

The Ministry of Finance will gather spending requests from government ministries by the end of August in accordance with the outline.”

The Japanese currency remains little affected by the reports of increased fiscal spending news, leaving USD/JPY miring in lows near 108.60 region.