by Staff Writers
Tokyo (AFP) June 15, 2011
The second extra budget that Japan is set to compile to cover costs to rebuild the region devastated by the March quake and tsunami will be around $25 billion, media reports said Wednesday.
Katsuya Okada, secretary general of the ruling Democratic Party of Japan, was quoted by Jiji Press as saying the size of the extra budget is expected to be some 2 trillion yen.
Okada made the remark during a meeting with his counterparts from opposition parties, Jiji Press and Kyodo reported.
Kan instructed his cabinet ministers on Tuesday to compile the second extra budget for the current fiscal year to March 2012.
Japan's parliament in May passed an emergency 4.015 trillion yen relief budget to help restoration work such as clearing massive amounts of rubble and building temporary housing for the thousands of people who lost their homes.
The 9.0-magnitude earthquake and tsunami on March 11 left more than 23,000 dead or missing and crippled the Fukushima Daiichi nuclear plant, which has been releasing radioactive materials into the environment.
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Japan to compile second reconstruction budget
Tokyo (AFP) June 14, 2011
Prime Minister Naoto Kan instructed his cabinet ministers on Tuesday to compile another relief budget to help efforts to rebuild the nation's northeast devastated by the March quake and tsunami. The government plans no bond issuance to finance the extra spending, ministers said. The extra budget is expected to be smaller than a first four trillion yen ($50 billion) supplementary budget f ... read more
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