By Kaori Kaneko and Izumi Nakagawa

TOKYO (Reuters) – Japan may need to consider compiling another extra budget to help its economy if the current reserve fund is not enough to respond to the coronavirus pandemic, a senior ruling party lawmaker said on Friday.

Hakubun Shimomura, the policy research council chief for the Liberal Democratic Party (LDP), said the reserve would likely be enough to cover support for the economy in 2020. A third extra budget could come as early as next year if reserve funds become insufficient.

“If 10 trillion yen of budget reserve is not enough, the government may need to compile a third extra budget,” Shimomura said in an interview with Reuters.

Japan’s economy suffered its biggest slump on record in the second quarter due to impact of the coronavirus. To soften the blow, the government has delivered two stimulus packages this year totalling 234 trillion yen ($2.21 trillion), or about 40% of Japan’s gross domestic product.

The government is tapping a pool of funds, set aside under the packages, to meet the cost of battling the pandemic. But some lawmakers are calling for another spending package as the economic pain persists.

Shimomura said that the party was not discussing a possibility of cutting the sales tax, which the government raised to 10% last October from 8%.

Nor had the party discussed whether the BOJ should cut its already negative interest rates further, Shimomura said, but he believed the party’s research commission on the finance and banking systems would discuss the issue.

The Bank of Japan has ramped up stimulus twice so far this year and created a lending facility to channel funds via banks to cash-strapped smaller firms.

Shimomura dismissed speculation that Prime Minister Yoshihide Suga would call a snap election to secure his own mandate

Adds detail, context

JOHANNESBURG, Oct 8 (Reuters)Struggling state-owned agricultural lender Land Bank has asked South Africa for an extra 10 billion rand ($603 million) of government support over the next few years.

Land Bank, which has already had a 3 billion rand state cash injection in the 2020/21 fiscal year, has been in talks with creditors since it defaulted on its debt in April.

“We have proposed R7 billion in 2021/22, and R1 billion per annum for the following three financial years for development,” Land Bank told Reuters in an emailed response to questions.

Land Bank is also planning an asset reduction programme, it said in a presentation to parliament this week.

State firms have been a long-term drain on the finances of Africa’s most industrialised economy, requiring bailouts at a time of weak economic growth which have helped to tip its sovereign credit rating into “junk” status.

South Africa’s National Treasury said last month that the Post Office, public broadcaster SABC and state-controlled airport operator ACSA were seeking a combined 10 billion rand in bailouts.

Meanwhile, South African Airways is under a form of bankruptcy protection and may be granted further bailouts at a mid-term budget due this month.

($1 = 16.5904 rand)

(Reporting by Alexander Winning Editing by Nqobile Dludla and Alexander Smith)

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If we’re lucky, there comes a point in our lives when we don’t have an immediate need for every dollar we earn. Some think of that as “extra” money, though I think it is important to point out that there is no such thing as extra money. Every dollar we earn serves some purpose in our lives – even the ones we donate to others in need. However, it is fair to say that as our incomes rise and expenses stay the same, each additional dollar earned becomes tougher and tougher to find an immediate use for. 

One way to help solve this conundrum of “too much cash” is to consider your financial priorities. Then, list them out. And, finally, rank them. Once you have that list of what matters the most, it becomes easier to decide what to do with any excess cash.

Any cash that is creating a larger-than-usual or larger-than-necessary balance in your main checking account should likely be repurposed on an ongoing basis. For instance, if you’ve developed