Kishida asks LDP to quickly enact extra budget

Prime Minister Kishida Fumio has asked his main ruling Liberal Democratic Party for cooperation in enacting a supplementary budget in next month's extraordinary session of the Diet.

Kishida attended a LDP executives' meeting on Tuesday. He referred to the previous day's announcement of the Cabinet Office that the country's GDP declined for the first time in two quarters in the July-September period.

Kishida attributed the fall to the state of emergency and other coronavirus-related reasons. He said that supply shortages of parts such as semiconductors, as well as rising raw material prices, had caused declines in consumption, plant investment and exports.

The prime minister said he will work powerfully to revive Japan's economy. He stressed the importance of quickly implementing new economic measures, which are set to be compiled on Friday.