Israel Katz takes over as Israeli finance minister

By Steven Scheer

JERUSALEM (Reuters) – Israel Katz took over as Israel’s finance minister on Monday as part of a new government, saying he planned to work towards helping the economy recover from the effects of the coronavirus while also promoting competition.

Katz — who replaces Moshe Kahlon after a five-year stint — said he didn’t want to talk about specific economic policies, preferring to first meet the ministry’s experts.

“There will be a plan,” he told a ceremony to mark the changing of the guard. “It will be accompanied by reforms, … competition.”

He has 90 days to pass a 2020 state budget. Israel has been using a pro-rated version of the 2019 base budget.

The government has approved an emergency stimulus plan of some 100 billion shekels ($28 billion) to help businesses and the economy deal with the effects of the pandemic — pushing up the expected budget

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Japan’s economic conditions likely to stay tough in current quarter, finance minister says

TOKYO (Reuters) – Economic conditions in Japan will likely stay tough in the current quarter, Finance Minister Taro Aso said on Tuesday, also promising that the government would ensure support for employment and help firms stay in business.

The world’s third-largest economy fell into recession for the first time in 4-1/2 years in the quarter through March, data on Monday showed, putting it on course for its deepest postwar slump as the coronavirus crisis wrecks businesses and consumers.

The government also pushed back its schedule for working out budget requests and looked to adopt its mid-year policy guidelines at a later-than-usual time as it focused on responses to the coronavirus.

Speaking to reporters after a cabinet meeting, Aso said the finance ministry will push back the deadline for budget requests to Sept. 30. Ministries usually make budget requests around August.

Economy Minister Yasutoshi Nishimura at a separate news conference said

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Highest Qualified Prime Minister In The Globe

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