Japan's Parliament is expected to approve its first interim budget in 11 years this afternoon. An interim budget, which comes into effect when a full fiscal year budget cannot be passed in time, is a rare occurrence in Japan. The last such case was in 2010. The approval of this short-term budget means that the government can continue functioning and funding its programs until the full-year budget is agreed upon.

In Japan, budgets are usually passed before the start of the fiscal year in April, making an interim budget a rare event. Any delay in approving the budget can disrupt public services, hence the need for an interim budget. The stakes are higher this year due to the prevailing economic conditions and impacts of COVID-19.

In the US, the approval of interim budgets, often called "continuing resolutions," is fairly common when Congress cannot agree on a budget. These allow for government funding at current levels until a new budget is passed. In the European Union, the process varies by country, but often temporary budgets or extended negotiations may occur in case of disagreement.