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Summary of METI's FY2016 Secondary Supplementary Budget Draft

August 2016
The Ministry of Economy, Trade and Industry

  • To address risks inherent in a global economic slowdown, the government of Japan will take economic measures to achieve sustainable growth.
  • The Ministry of Economy, Trade and Industry (METI) will allocate 588 billion yen (5.7 billion US dollars) in the FY2016 Secondary Supplementary Budget to stimulate private sector investment.
  • The government of Japan will submit the supplementary budget to the Diet, and the Diet will deliberate on the budget.

Under the budget, the government of Japan aims to stimulate private-sector investment in the following three fields, in line with the policy goal of “Investment for the Future”: [1] SMEs, [2] resource development and [3] the fourth industrial revolution.

1. SMEs: Development of new products and services

100.13 billion yen (972 million US dollars)

12.0 billion yen (117 million US dollars)

2. Resource development: Financing high-risk projects

162.8 billion yen (1.6 billion US dollars)

3. The fourth industrial revolution: Establishing Artificial Intelligence (AI) research bases

19.5 billion yen (189 million US dollars)

Reference